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1021 Windmill Lane Irving, TX 75061

3 Beds 2 Baths 1,788 sqft Built 1981

$295,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $164.99
  • 2 Days on Market
  • MLS # : 14475180
  • Updated Date : 11/21/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,788 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Newly updated 3 Bedroom, 2 Bath move-in ready home conveniently located near DFW Airport, shopping & more! New roof, fresh paint, new windows & flooring all in July of this year! Both bathrooms were updated just last year, in 2019 as well as the kitchen. Amazing manicured backyard, perfect for entertaining. Don't miss out on this gem, it won't last long. Come see it today!

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

Neighborhood: Pioneer Valley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k279k

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

Neighborhood: Pioneer Valley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10432064

* 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
Davis Elementary School Primary Regular 880 57 4
Lady Bird Johnson Middle School Middle Regular 1,002 65 4
Irving High School High Regular 2,429 164 4

Davis Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 57
4
GreatSchools Rating

Lady Bird Johnson Middle School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 65
4
GreatSchools Rating

Irving High School

  • Education Level: High
  • # of students: 2,429
  • # of teachers: 164
4
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,088
Property Tax -$652
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$260

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.

$295,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,712

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6953$1,7104$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 1021 Windmill Lane Irving, TX 3
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.96
    •  
  • 2415 Glacier Street Irving, TX 1
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1965
    property image
    LEASED 05/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 903 Colony Ridge Court Irving, TX 2
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 1984
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 1013 Windmill Lane Irving, TX 4
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 1982
    property image
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 1537 High Crest Court Irving, TX 5
    • 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 1983
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Mila Yakhnis
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475180
Last Updated: 11/21/2020
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