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PROPERTY INFO
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
- # 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Townlake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$105,099
LOAN DETAILS
$1,383
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $93,725 |
| Loan Amount | $281,175 |
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
-
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
Listing Spark
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14491965
Last Updated: 12/30/2020
