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235 Loon Bay Drive Gun Barrel City, TX 75156

3 Beds 2 Baths 2,030 sqft Built 2009

$689,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $339.41
  • 4 Days on Market
  • MLS # : 14539078
  • Updated Date : 03/25/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,030 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday Realtors

Listing Agent's Description

Nice, 3-2-2 well maintained home on deep water with year round sunsets and lots of parking! Fully wrought iron fenced yard great for pets and young children. Spacious covered deck across back of home beckons outdoor entertaining and living. Large living area with tile floors and stone WBFP. Roomy kitchen with granite countertops and SS appliances. Waterside master with door to covered deck, walk in closet and bath with separate jet tub and walk in tile shower, double sinks and vanity counter. Boathouse with 3 Deep Glow underwater lights, boatslip, slip for 2 PWC with gem remote lifts and party deck. Located in Gun Barrel City close to restaurants, stores and quick DFW commute.

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75156

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $70k190k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75156

No Data Available.

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Mabank High School High Regular 1,023 71 5

Mabank High School

  • Education Level: High
  • # of students: 1,023
  • # of teachers: 71
5
GreatSchools Rating
 

$620,100$757,900$689,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$2,393
Property Tax -$1,133
Property Insurance -$140
HOA -$11
Property Management Fees -$99
CASH FLOW
-$2,216

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$689,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,335

INVESTMENT

$188,335

Down Payment
$172,250
Rehab Estimate
$5,750
Closing Costs
$10,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,393

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,250
Loan Amount $516,750
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$9,413

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,560

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5004$1,560
$1,560
RENT COMPS ANALYSIS
  • 235 Loon Bay Drive Gun Barrel City, TX 4
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.77
    •  
  • 226 Flying Bridge Drive Gun Barrel City, TX 1
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
  • 229 Windjammer Road Gun Barrel City, TX 2
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2021
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 227 Windjammer Road Gun Barrel City, TX 3
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2020
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Debbie French
Ebby Halliday Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539078
Last Updated: 03/25/2021
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