Selected for the Terner Labs Housing Venture Lab

131 Lakeway Lane, Gun Barrel City, TX 75156

Active
Listed 114 days ago
Owner-Occupant Eligible
$749,990

About $3,612 a month to live here, after the rent from the other home.

House + ADU4,300 sqft6 beds6 bathsListed Jul 21, 2026

A house with a second home on the lot. Live in one and rent out the other. How it works

Live here for about

$3,612a month

The second home on the lot rents for $1,864. We hold back $280 of that for repairs and an empty month, and the rest goes toward a $5,196 monthly payment.

Income to qualify: about $128,000 a year

With how much down?

At 20% down ($149,998) and 6.0%, 30-year fixed. Your rate and down payment change this.

Get rich slow: keep this loan ten years and the payments pay off about $98,000 of it. See the ten-year math

See which homes fit your numbers
How we work this out

The cost to live here is the loan payment, taxes, insurance and any dues, less the rent, with a little held back for repairs and an empty month. Income to qualify uses a 43% debt-to-income limit, counts 75% of the rent, and none of your other debts.

$22,500 minimum down payment. The cost above is at 20% down, and at the minimum it is higher. Set your own

ABOUT THIS HOME

**Luxury Lake Estate: Multiple Homes & Income Opportunities!** Rare opportunity to own an exceptional gated estate in the Eastwood Islands community on Cedar Creek Lake. With a combined total of 4300 sq ft of living space, this unique property includes a custom-built main home (2024) 3B and 2.5B, a guest cottage 2B & 1.5B, an efficiency home with a workshop, on 2 lots —ideal for multi generational living, guests, rental income, or a private family compound. The main home features vaulted ceilings, hand-scraped hardwood and tile floors, and an open-concept layout. The spacious family room offers a floor-to-ceiling stone fireplace, partial lake views, and abundant natural light. The chef's kitchen includes a large island, walk-in pantry, stainless steel appliances, and ample workspace. The private primary suite features tray ceilings and a spa-like bath with a walk-in shower, claw foot soaking tub, dual vanities, and walk-in closet. The split-bedroom floor plan includes two bedrooms connected by a Jack-and-Jill bath. A dedicated office with Cat 6 wiring, double doors, and backyard access is ideal for working from home. The over sized laundry room is conveniently located off the attached three-car garage. Enjoy the wraparound porch and mature pecan and pear trees. Included is a 1,084-square-foot guest cottage with a full Kitchen and living areas, a screened porch, fireplace —perfect for guests or short- or long-term rental income or parent home. A third residence offers approximately 800 square feet of efficiency-style living space with its own yard, workshop, and peek-a-boo lake views, providing additional flexibility or rental potential. Eastwood Islands residents enjoy a private boat ramp, fishing dock, parks, and Cedar Creek Lake access, all just minutes from shopping, dining, and entertainment. This one-of-a-kind property offers luxury, flexibility, and exceptional investment potential. See Eastwood Island POA website for community rental policies.

House + ADU

Property Type

44,344 sqft

Lot Size

2024

Year Built

Listing Date: 07/21/2026

Listed by: Val McGilvra

Listing office: Cedar Creek Lake Real Estate

Source: NTREIS #21337766

Series Homes is committed to full compliance with the Fair Housing Act and the Equal Credit Opportunity Act.

CHOOSE YOUR UNIT

Tap the one you would live in. The rest pay rent, and that rent comes off your monthly cost.

If someone lives in the unit you want, or a lease comes with the home, ask how moving in works on this one.

CHECK OUR MATHEvery line of the monthly cost is in here. Change the price or the down payment and watch it move.

OFFER PRICE

Change your offer and watch the monthly cost move.

Purchase Price

-15%
$749,990

List Price

+15%

FINANCIALS

How much do you want to put down?

Purchase price$749,990
Your Down Payment$149,998
Financed$599,992
Estimated Monthly Payment$5,196

Before rent: principal and interest at 6.0% on a 30-year fixed loan, taxes, insurance and any HOA dues. Your rate and down payment change this.

MONTHLY BREAKDOWN

Estimate at 20% down ($149,998) and 6.0%, 30-year fixed. Your rate and down payment change this.

Estimated Monthly Payment (Before Rental Income)
$5,196/month
Principal + Interest
$3,597
Property Taxes
$1,008
Home Insurance
$581
HOA$10
Rental Income (1 Unit)
$1,864/month

From the listing description.

Rental Expenses
-$280
Cost to live here
$3,612/month

Payment estimates shown by Series are illustrative only. Final loan terms, monthly payments, and eligibility will be determined by your mortgage loan originator.

BEFORE YOU OFFER

Now run it on your paycheck.

This page is priced at one down payment and one rate. Send the address and we run it at yours: what you would pay each month after rent, and which loan works on this home.

Free. No credit pull.

NTREIS logo

MLS# 21337766 · Listing office: Cedar Creek Lake Real Estate

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the NTREIS Multiple Listing Service. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.