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320 Masthead Road Gun Barrel City, TX 75156

3 Beds 2 Baths 1,760 sqft Built 2010

$210,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $119.32
  • 2 Days on Market
  • MLS # : 14485000
  • Updated Date : 12/12/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful home on 2 lots (lots 10 and 21) in desired Harbor Point. Talk about wide open! This home offers an open concept living room, kitchen, and dining room with tall ceilings. It features a large walk-in shower in the master bathroom with dual shower heads; one on each side! Step outside the back door onto a large, covered patio; great for entertaining! Just minutes from the lake and town, this home has so much to offer and is awaiting its new owner!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$775
Property Tax -$345
Property Insurance -$125
HOA -$4
Property Management Fees -$99
CASH FLOW
-$48

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.

$210,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,343

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4004$1,400
$1,400
RENT COMPS ANALYSIS
  • 320 Masthead Road Gun Barrel City, TX 1
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.74
    •  
  • 328 Windjammer Road Gun Barrel City, TX 2
    • 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 2006
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 330 Windjammer Road Gun Barrel City, TX 3
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2006
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 226 Flying Bridge Drive Gun Barrel City, TX 4
    • 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
    •  
PROPERTY LISTING DETAILS
Cheyenne Cable
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485000
Last Updated: 12/12/2020
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