Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

914 Wheeler Creek Drive Gainesville, TX 76240

3 Beds 2 Baths 2,038 sqft Built 1996

$330,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $161.92
  • 4 Days on Market
  • MLS # : 14462970
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,038 sqft
  • Baths : 2 full
Listing Agent

Tierra Real Estate

Listing Agent's Description

WELCOME to the gorgeous home you have always wished for and more! Beautifully designed floor plan, large living area w blt ins and gas fireplace, dream kitchen with GE ss appls, multi level cabinetry, granite counter tops, & walk in pantry. Retreat to your private master bedroom and spa inspired bathroom, jetted tub, separate shower & walk in closet. Split arrangement with two guest suites, office or dining, large utility room, custom archways, wide plank wood tile, travertine and granite bathrooms, fresh paint, new roof, HVAC, water heater, gutters, etc. Outside boasts an expansive cvrd patio and entertainment area overlooking the sparkling diving pool, lrg landscaped fenced bkyd, sprinkler sys and more!

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: 76240

ZipNIR Market*CityMarket20102015Year2006201980k90k100k110k120k130k140k150k160kPrice in $74k167k

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

Zip Code: 76240

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
Robert E Lee Intermediate School Primary Regular 449 30 3
Gainesville Middle School Middle Regular 391 29 5
Gainesville High School High Regular 719 55 3

Robert E Lee Intermediate School

  • Education Level: Primary
  • # of students: 449
  • # of teachers: 30
3
GreatSchools Rating

Gainesville Middle School

  • Education Level: Middle
  • # of students: 391
  • # of teachers: 29
5
GreatSchools Rating

Gainesville High School

  • Education Level: High
  • # of students: 719
  • # of teachers: 55
3
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,218
Property Tax -$730
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
-$507

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.

$330,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$0

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6003$1,6754$1,680
$1,680
RENT COMPS ANALYSIS
  • 914 Wheeler Creek Drive Gainesville, TX 4
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.82
    •  
  • 1403 S Howeth Street Gainesville, TX 1
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2003
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 211 Candlewood Circle Gainesville, TX 2
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2015
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 3502 Columbus Street Gainesville, TX 3
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2014
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.98
    •  
PROPERTY LISTING DETAILS
Misty Schmitz
Tierra Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462970
Last Updated: 10/31/2020
BESbswy