Property Portfolio Information
Prepared by: Mauricio Pena, Realtor with Sunet Group September 25, 2017
EAST TEXAS PROPERTIES GLADEWATER, TEXAS
INTRODUCTION
This report provides information on a portfolio of properties located in East Texas and listed for sale by Sunet Group. The properties are mainly located in the town of Gladewater, Texas, which is about 115 miles to the east of Dallas and about 80 miles from Shreveport, Louisiana. The rest of the properties are in the nearby cities of Longview and Big Sandy, Texas, both located within 12 miles from Gladewater. This report provides financial information on the 34 rental properties currently for sale, as well as demographic information about the area.
EAST TEXAS PROPERTIES
The Brokerage: Sunet Group
Sunet Group is emerging into the leading commercial & residential full services real estate firm in Texas. We specialize in commercial real estate transaction services including investment transaction, tenant representation, business brokerage, valuation & site selection, and market research as well as residential brokerage. Sunet Group also provides exceptional real estate development and property management services. At Sunet Group our goal is to maximize ownership benefits and produce the greatest economic return for our clients through locating their income properties. We have affiliate offices and partnership in all the metropolitan areas in Texas including Dallas-Fort Worth, Houston, San Antonio and Austin. Our comprehensive resources enable us to tailor solutions to every real estate need.
Mauricio Pena Paul DongListing Agent Broker
Ph. 214-392-0581 Email: [email protected] Email: [email protected] Ph. 214-777-3205
THE TOWN OF GLADEWATER
Gladewater is known as “The Antique Capital of East Texas”, with approximately two-hundred and seventy-five dealers and crafters. The largest nearby cities are Longview, locate 12 miles to the east and Tyler, just 25 miles southwest.
In the 1930’s, Gladewater was the hub of production and refining and the East Texas field soon accounted for more than 10 percent of the world’s oil.
The population in Gladewater is 6,451 with a median age of 41 years, according to the 2015 information provided by Data USA . The most common job groups, by number of people living in Gladewater, TX, are Production & Transportation, Management, Business, Science, & Arts, and Sales & Office.
In 2015, 42.5% of the housing units in Gladewater were occupied as rentals. This is higher than the nation average of 36.1%.
The following data was extracted from the Gladewater Economic Development Corporation & Data USA:
Total housing units 2,601 Renter-occupied housing units 1,105 Mean travel time to work (in minutes) 24 Median family income (dollars) $37,819 Median House Value (dollars) $102,900 Average Male Salary 63,602 Average Female Salary 44,197
EAST TEXAS PROPERTIES
LONGVIEW, TEXAS The city of Longview is located about 12 miles from Gladewater, Texas and is the center of economic activity for a significant part of Northeast Texas. Cultural, career, and educational opportunities provide a wonderful place for families and businesses to grow.
The population in Longview is 82,112, with a median age of 34.9 years, according to information provided by Data USA, In 2015, the median household income for Longview, TX was $44,544. From 2014 to 2015, employment in Longview, TX grew at a rate of 0.14%, from 36,751 employees to 36,803 employees.
The most common job groups, by number of people living in Longview, TX, are Management. Business, Science & Arts, Sales, and Service.
In 2015, the median property value in Longview, TX grew to $130,100 from the previous year's value of $129,300. In 2015, 44.6% of the housing units in Longview, TX were occupied as rentals.
Total housing units 30,577 Renter-occupied housing units 13,637 Mean travel time to work (in minutes) 19 Median family income (dollars) $44,544 Median House Value (dollars) $130,100 Average Male Salary 51,034 Average Female Salary 33,695
EAST TEXAS PROPERTIES
THE PROPERTIES
The properties for sale consist of a portfolio of 34 income producing rental properties to be sold as a “package”. The following information provides description and financial data on each of the properties.
EAST TEXAS PROPERTIES
Listing Price: $155,000.00
Gross Annual Rent: $ 15,000.00 Annual Taxes: $ 1,328.46 Insurance Premium: $ 1,514.00
Bedrooms: 4 Bathrooms: 2
203 E. Grove Big Sandy, Texas
Listing Price: $ 74,000.00 Gross Annual Rent: $ 9,600.00 Annual Taxes: $ 935.79 Insurance Premium: $ 398.00
Bedrooms: 3 Bathrooms: 2
Type to enter text
2610 Hendrick Gladewater, Texas
100 Grove Street Big Sandy, Texas
$172,000.00
$ 20,100.00
$ 1,356.16
$ 988.00
4
Listing Price: Gross Annual Rent: Annual Taxes: Insurance Premium:
Bedrooms: Bathrooms: 2
Listing Price: $ 61,000.00 Gross Annual Rent: $ 8,280.00 Annual Taxes: $ 750.00 Insurance Premium: $ 563.00
Bedrooms: 2 Bathrooms: 1
811 Pacific Gladewater, Texas
Listing Price: $ 52,000.00 Gross Annual Rent: $ 7,860.00 Annual Taxes: $ 664.22 Insurance Premium: $ 386.00
Bedrooms: 2 Bathrooms: 1
303 Oliver Gladewater, Texas
Listing Price: $ 74,000.00 Gross Annual Rent: $ 9,780.00 Annual Taxes: $ 1,146.19 Insurance Premium: $ 567.00
Bedrooms: 3 Bathrooms: 2
402 Marshall Gladewater, Texas
Listing Price: $ 62,000.00 Gross Annual Rent: $ 8,280.00 Annual Taxes: $ 816.84 Insurance Premium: $ 368.00
Bedrooms: 2 Bathrooms: 1
708 Maple Gladewater, Texas
1209 Olive Gladewater, Texas
Listing Price: $ 72,000.00 Gross Annual Rent: $ 9,000.00 Annual Taxes: $ 1,040.43 Insurance Premium: $ 361.00
Bedrooms: 2 Bathrooms: 1
1106 Rodeo Gladewater, Texas
Listing Price: $ 77,000.00 Gross Annual Rent: $ 10,500.00 Annual Taxes: $ 1,131.95 Insurance Premium: $ 684.00
Bedrooms: 3 Bathrooms: 1
1204 Zeola Longview, Texas
Listing Price: $ 84,000.00 Gross Annual Rent: $ 9,420.00 Annual Taxes: $ 1,305.38 Insurance Premium: $ 477.00
Bedrooms: 2 Bathrooms: 1
1207 Edwards Gladewater, Texas
Listing Price: $ 75,000.00 Gross Annual Rent: $ 9,600.00 Annual Taxes: $ 1,105.93 Insurance Premium: $ 396.00
Bedrooms: 3 Bathrooms: 2
2800 Bernice Gladewater, Texas
Listing Price: $ 65,000.00 Gross Annual Rent: $ 9,900.00 Annual Taxes: $ 858.02 Insurance Premium: $ 524.00
Bedrooms: 2 Bathrooms: 1
2805 Bernice Gladewater, Texas
Listing Price: $ 32,000.00 Gross Annual Rent: $ 7,200.00 Annual Taxes: $ 421.28 Insurance Premium: $ 384.00
Bedrooms: 2 Bathrooms: 1
2812 Bernice Gladewater, Texas
Listing Price: $ 65,000.00 Gross Annual Rent: $ 9,360.00 Annual Taxes: $ 1,003.02 Insurance Premium: $ 503.00
Bedrooms: 3 Bathrooms: 1
9281 S. Hwy. 155 Big Sandy, Texas
$ 54,000.00 $ 8,400.00 $ 498.69 $ 493.00
3
Listing Price: Gross Annual Rent: Annual Taxes: Insurance Premium:
Bedrooms: Bathrooms: 1Lot Size: 3.5 Acres
206 Empire Gladewater, Texas
Listing Price: $ 62,000.00 Gross Annual Rent: $ 9,000.00 Annual Taxes: $ 1,212.01 Insurance Premium: $ 630.00
Bedrooms: 3 Bathrooms: 1
207 E Pirate Longview, Texas
Listing Price: $ 96,000.00 Gross Annual Rent: $ 10,980.00 Annual Taxes: $ 1,519.85 Insurance Premium: $ 581.00
Bedrooms: 3 Bathrooms: 2
328 Melba Gladewater, Texas
Listing Price: $ 48,000.00 Gross Annual Rent: $ 7,860.00 Annual Taxes: $ 501.39 Insurance Premium: $ 352.00
Bedrooms: 2 Bathrooms: 1
517 N. Pearl St. Big Sandy, Texas
Listing Price: $ 55,000.00 Gross Annual Rent: $ 7,860.00 Annual Taxes: $ 709.34 Insurance Premium: $ 504.00
Bedrooms: 2 Bathrooms: 1
518 Holly Gladewater, Texas
Listing Price: $ 53,000.00 Gross Annual Rent: $ 8,280.00 Annual Taxes: $ 791.93 Insurance Premium: $ 368.00
Bedrooms: 2 Bathrooms: 1
811 Fairway Longview, Texas
Listing Price: $110,000.00 Gross Annual Rent: $ 10,500.00 Annual Taxes: $ 1,547.02 Insurance Premium: $ 357.00
Bedrooms: 3 Bathrooms: 2
1404 Lake Dr. Longview, Texas
Listing Price: $ 93,000.00 Gross Annual Rent: $ 9,240.00 Annual Taxes: $ 1,272.32 Insurance Premium: $ 526.00
Bedrooms: 3 Bathrooms: 1
1603 Ivy Lea Gladewater, Texas
Listing Price: $ 66,000.00 Gross Annual Rent: $ 8,220.00 Annual Taxes: $ 1,017.18 Insurance Premium: $ 338.00
Bedrooms: 2 Bathrooms: 1
2052 Phillips Springs Gladewater, Texas
Listing Price: $ 85,000.00 Gross Annual Rent: $ 11,460.00 Annual Taxes: $ 933.09 Insurance Premium: $ 735.00
Bedrooms: 3 Bathrooms: 2
2076 Phillips Springs Gladewater, Texas
Listing Price: $ 76,000.00 Gross Annual Rent: $ 10,140.00 Annual Taxes: $ 1,035.12 Insurance Premium: $ 426.00
Bedrooms: 3 Bathrooms: 2
12040 Hwy 271 Gladewater, Texas
Listing Price: $ 92,000.00 Gross Annual Rent: $ 11,820.00 Annual Taxes: $ 1,175.11 Insurance Premium: $ 732.00
Bedrooms: 3 Bathrooms: 2
706 Maple Gladewater, Texas
Listing Price: $ 61,000.00 Gross Annual Rent: $ 8,400.00 Annual Taxes: $ 946.11 Insurance Premium: $ 386.00
Bedrooms: 2 Bathrooms: 1
300 W. Pacific Gladewater, Texas
Listing Price: $195,000.00 Gross Annual Rent: $ 24,000.00 Annual Taxes: $ 1,780.27 Insurance Premium: $ 1,006.00
Office Space / Commercial
405 Phillips Dr Gladewater, Texas
Listing Price: $120,000.00 Gross Annual Rent: $ 14,400.00 Annual Taxes: $ 2,890.52 Insurance Premium: $ 692.00
Bedrooms: 3 Bathrooms: 2
703 Rodeo Gladewater, Texas
Listing Price: $. 72,000.00 Gross Annual Rent: $ 9,360.00 Annual Taxes: $ 1,050.10 Insurance Premium: $ 488.00
Bedrooms: 3 Bathrooms: 2
704 Wood St Gladewater, Texas
Listing Price: $ 65,000.00 Gross Annual Rent: $ 9,000.00 Annual Taxes: $ 1,517.26 Insurance Premium: $ 259.00
Bedrooms: 2 Bathrooms: 1
712 Quitman Gladewater, Texas
Listing Price: $ 58,000.00 Gross Annual Rent: $ 9,600.00 Annual Taxes: $ 927.49 Insurance Premium: $ 463.00
Bedrooms: 3 Bathrooms: 1
4101 Scrub Pine Big Sandy, Texas
$115,000.00 $ 10,140.00 $ 914.93 $ 828.00
3
Listing Price: Gross Annual Rent: Annual Taxes: Insurance Premium:
Bedrooms: Bathrooms: 1Lot Size: 13.9 Acres
1103 Olive Street Gladewater, Texas
Listing Price: $ 65,000.00 Gross Annual Rent: $ 9,000.00 Annual Taxes: $ 929.07 Insurance Premium: $ 438.00
Bedrooms: 2 Bathrooms: 1
FINANCIAL REPORT
$ 17,113
$ 251,397
Rental FeesLate FeesLess 4% Vacancy
Annual $ 351,540
$ 4,319 $ 7,602
Adjusted Gross Income
Less InsuranceLess Taxes
$ 348,257
$ 18,715 $ 37,032
$ 24,000Less Maintenance (6%) Management (5%)
Monthly $ 29,295.00 $ 359.94 $ 633.49 $ 29,021.45
$ 1,559.58 $ 3,086.00 $ 2,000.00 $ 1,426.07
$ 2, 761, 000
Net Income
Total Market Value Cap Rate 9.11%
$ 20,949.80
Property Management
There are several property management companies in the surrounding areas that will be able to service the properties. The following is a list of some of the companies that can provide this service for the future owner.
1. Reliable ManagementContact: Pate Greening707 N Green StreetLongview, Texas 75601Ph. 903-759-7892
2. Pristine Property ManagementContact: Lynn Mupin712 N High Street Longview, Texas 75601 Ph. 903-424-1078
3. Leach Property ManagementContact: Tammy Graham101 Pinebrook PI # ALongview, Texas 75601Ph. 903-758-8384
2. Marshall Jackson Property ManagementContact: Marshall Jackson407 E Methvin St Longview, Texas 75601 Ph. 903-452-6622
Sunet Group
Our Commercial Listings: http://www.loopnet.com/brokerdirectory/profile/Sunet-Group/feete9s
Visit our Website: http://www.sunetgroup.com/home.html
To contact Sunet Group:
The Sunet Group Dallas Office 5048 Tennyson Parkway, Suite 250 Plano, Texas 75024 Ph. 972-664-0500 Fax: 214-291-5561
List of References
1. DATA USA: GLADEWATER, TX (Oct.2017)Retrieved from:https://datausa.io/profile/geo/gladewater-tx/#demographics
2. GLADEWATER ECONOMIC DEVELOPMENT CORPORATION (Oct. 2017)Retrieved from:http://www.gladewateredc.com
3. DATA USA : LONGVIEW, TX (Oct.2017)Retrieved from:https://datausa.io/profile/geo/longview-tx/#economy
4. LONGVIEW ECONOMIC DEVELOPMENT CORPORATION (Oct.2017)Retrieved from:http://longviewusa.com
5. SUNET GROUP (Oct. 2017)Retrieved from:http://www.sunetgroup.com/home.html
Sunet Group 0542298 (972)664-0500
Paul Dong 0514746 [email protected] (214)392-0581
Mauricio Pena 0660947 [email protected] (214)777-3205
Sunet Group, 5048 Tennyson Parkway Plano, TX 75024 2147773205 214-291-5561 IABSMaurico Pena