East Texas Portfolio - LoopNet€¦ · This report provides information on a portfolio of...

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: mauriciopena@sunetgroup.com Email: pauldong@sunetgroup.com 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

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

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.

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

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

Listing Price: Gross Annual Rent: Annual Taxes: Insurance Premium:

Bedrooms: Bathrooms: 2

811 Pacific Gladewater, Texas

303 Oliver Gladewater, Texas

Listing Price: $ 74,000.00 Gross Annual Rent: $ 9,780.00 Annual Taxes: $ 1,146.19 Insurance Premium: $ 567.00

402 Marshall Gladewater, Texas

708 Maple Gladewater, Texas

1209 Olive Gladewater, Texas

1106 Rodeo Gladewater, Texas

1204 Zeola Longview, Texas

1207 Edwards Gladewater, Texas

2800 Bernice Gladewater, Texas

9281 S. Hwy. 155 Big Sandy, Texas

$ 54,000.00 $ 8,400.00 $ 498.69 $ 493.00

Bedrooms: Bathrooms: 1Lot Size: 3.5 Acres

206 Empire Gladewater, Texas

207 E Pirate Longview, Texas

328 Melba Gladewater, Texas

517 N. Pearl St. Big Sandy, Texas

518 Holly Gladewater, Texas

811 Fairway Longview, Texas

Listing Price: $110,000.00 Gross Annual Rent: $ 10,500.00 Annual Taxes: $ 1,547.02 Insurance Premium: $ 357.00

1404 Lake Dr. Longview, Texas

1603 Ivy Lea Gladewater, Texas

2052 Phillips Springs Gladewater, Texas

2076 Phillips Springs Gladewater, Texas

12040 Hwy 271 Gladewater, Texas

706 Maple Gladewater, Texas

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

703 Rodeo Gladewater, Texas

Listing Price: $. 72,000.00 Gross Annual Rent: $ 9,360.00 Annual Taxes: $ 1,050.10 Insurance Premium: $ 488.00

704 Wood St Gladewater, Texas

712 Quitman Gladewater, Texas

4101 Scrub Pine Big Sandy, Texas

$115,000.00 $ 10,140.00 $ 914.93 $ 828.00

Bedrooms: Bathrooms: 1Lot Size: 13.9 Acres

1103 Olive Street Gladewater, Texas

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 pauldong@sunetgroup.com (214)392-0581

Mauricio Pena 0660947 mauriciopena@sunetgroup.com (214)777-3205

Sunet Group, 5048 Tennyson Parkway Plano, TX 75024 2147773205 214-291-5561 IABSMaurico Pena

East Texas Portfolio - LoopNet€¦ · This report provides information on a portfolio of...

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