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1106 Olde Towne Drive Irving, TX 75061

4 Beds 3 Baths 2,546 sqft Built 1984

$374,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $147.25
  • 5 Days on Market
  • MLS # : 14491965
  • Updated Date : 12/30/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Listing Spark

Listing Agent's Description

Well maintained home in the established neighborhood of Towne Lake subdivision, only 4 minutes’ drive to Islamic Center of Irving and within walking distance to Towne Lake Park. This is a two story 2546 sq.ft home with 4 bedrooms, 2.5 bath, bright natural light and many upgrades. Tiles and new wooden floors, natural wood paneling, granite countertops in both the kitchen and master bathroom and dual fireplace in both living areas. Spacious backyard with 8189 sq.ft lot size and mature trees. Easy access to Hwy 161, Hwy 183 and approximately 3 miles from the TRE park and ride station.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Townlake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k281k

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

Neighborhood: Townlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9452144

* 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
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,383
Property Tax -$828
Property Insurance -$174
Property Management Fees -$99
CASH FLOW
-$545

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.

$374,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$27

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8903$1,9404$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 1106 Olde Towne Drive Irving, TX 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.76
    •  
  • 4109 Crest Ridge Drive Irving, TX 1
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 1989
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 325 Post Oak Drive Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 2,613 Sqft ∙ Built 1982 5 beds 4 baths ∙ 2,613 Sqft ∙ Built 1982
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.72
    •  
  • 3500 Calle Del Sol Irving, TX 4
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1968
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 1420 Carver Lane Irving, TX 5
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1988
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491965
Last Updated: 12/30/2020
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