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104 Frio Drive Irving, TX 75039

3 Beds 3 Baths 2,726 sqft Built 2011

$529,500

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $194.24
  • 2 Days on Market
  • MLS # : 14469995
  • Updated Date : 11/14/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,726 sqft
  • Baths : 3 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

LOCATION, LOCATION, FACES BEAUTIFUL PARK, Creme da la creme, Every room has upgraded features. Empty nester home, never had smokers or pets. Contemporary with 2 story soaring ceiling in LR, open bar on 2nd floor between Game room and Media, Master on 1st floor and 2nd BR on 1st fl with closet and hall bath used as study. Gourmet kitchen with gas cooktop and center island. Large game room for pool table, extra unfinished storage room, Decked out MEDIA ROOM. Light and Bright throughout;Fabulous private covered patio on east with grill and landscapers dream;big side yard; Hardwood flooring in all rooms except in 3 BR's, 3 Baths; access to DFW, Las Colinas center, Dallas center, Southlake: showings start Tues 11-17

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

Neighborhood: Riverside Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $107k519k

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

Neighborhood: Riverside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10433548

* 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
La Villita Elementary School Primary Regular 584 34 7
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

La Villita Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 34
7
GreatSchools Rating

Barbara Bush Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 44
4
GreatSchools Rating

Ranchview High School

  • Education Level: High
  • # of students: 843
  • # of teachers: 56
5
GreatSchools Rating
 

$476,550$582,450$529,500

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$1,954
Property Tax -$1,257
Property Insurance -$185
HOA -$116
Property Management Fees -$99
CASH FLOW
-$711

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$529,500

PROJECTED PRICE

$2,900

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,068

INVESTMENT

$146,068

Down Payment
$132,375
Rehab Estimate
$5,750
Closing Costs
$7,943

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,954

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,375
Loan Amount $397,125
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$53

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,917

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,9003$2,9004$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 104 Frio Drive Irving, TX 3
    • 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.06
    •  
  • 6815 Deleon Street Irving, TX 1
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2015
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.03
    •  
  • 7322 Comal Drive Irving, TX 2
    • 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 2009
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.09
    •  
  • 423 Palacio Street Irving, TX 4
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2013
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.11
    •  
  • 6835 Deleon Street Irving, TX 5
    • 3 beds 3 baths ∙ 2,848 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,848 Sqft ∙ Built 2016
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Vicky Giorgetti
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469995
Last Updated: 11/14/2020
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