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909 Gambel Drive Sherman, TX 75092

4 Beds 3 Baths 2,698 sqft Built 2020

$321,850

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $119.29
  • 6 Days on Market
  • MLS # : 14502831
  • Updated Date : 01/19/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,698 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

This 2-story, 2,675-square-foot home is eye-catching from first look, and continues to please throughout the interior. The Briscoe weaves together a broad array of included features that would be considered upgrades by other builders—big details like granite countertops and wood floors, crown molding and a hall bench in the mudroom. The main floor presents an open concept where the family living happens. The kitchen island gives full view of the family and dining rooms. The private owners suite is the only bedroom downstairs with an expansive bath and walk-in closet that are both designed for sharing, plus access to the laundry room. Finally, the flex room gives you one more reason the love this plan.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

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

Zip Code: 75092

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
Sory Elementary School Primary Regular 593 41 7
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Sory Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 41
7
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$289,665$354,035$321,850

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,118
Property Tax -$569
Property Insurance -$174
HOA -$42
Property Management Fees -$99
CASH FLOW
-$52

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$321,850

PROJECTED PRICE

$1,950

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,290

INVESTMENT

$87,290

Down Payment
$80,463
Rehab Estimate
$2,000
Closing Costs
$4,828

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,118

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,463
Loan Amount $241,388
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,943

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,950
$1,950
RENT COMPS ANALYSIS
  • 909 Gambel Drive Sherman, TX 3
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 1917 Stonebrook Lane Sherman, TX 1
    • 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2002
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.69
    •  
  • 4105 Cardinal Drive Sherman, TX 2
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2003
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502831
Last Updated: 01/19/2021
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