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117 Heatherstone Drive Irving, TX 75063

4 Beds 3 Baths 2,872 sqft Built 1996

INVESTimate

$414,990

List Price

$2,530

$2,280 - $2,780

Rent Est.

$441,466  ( +6.38%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $144.50
  • 8 Days on Market
  • MLS # : 14415452
  • Updated Date : 08/20/2020 at 21:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,872 sqft
  • Baths : 3 full
Listing Agent

Aatrealty Llc

Listing Agent's Description

This beautiful 2 story house has a lot to offer.Bright and open with abundant natural light.Beautiful 4 bedroom 3 bath home in a convenient location.Large Kitchen features granite counters, stainless appliances and lots of storage.Large bedrooms & vaulted ceilings.Upstairs features a study area with a built in desk and a game room.Upstairs master features lots of natural light, a huge closet & a bathroom with dual sinks & separate shower & tub with jacuzzi.Private backyard is great for entertaining.Close to lake & parks.Just a short commute to Downtown Dallas & DFW Airport.Roof-Nov 2019, Floor-July 2020, Microwave & Oven-July 2020, Interior paint June-July 2020, exterior paint Feb-Mar 2020, Blinds July-Aug 2020

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: Lakeside Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $107k389k

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

Neighborhood: Lakeside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10432414

* 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
Tom Landry Elementary School Primary Regular 466 27 2
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

Tom Landry Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 27
2
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
 

$373,491$456,489$414,990

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,531
Property Tax -$917
Property Insurance -$193
HOA -$109
Property Management Fees -$99
CASH FLOW
-$319

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.

$414,990

PROJECTED PRICE

$2,530

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.38%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,722

INVESTMENT

$115,722

Down Payment
$103,748
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,748
Loan Amount $311,243
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,714

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,530
1$2,5302$2,6003$2,6504$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 117 Heatherstone Drive Irving, TX 1
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.88
    •  
  • 8806 Lakewood Drive Irving, TX 2
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 1996
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 8804 Crescent Court Irving, TX 3
    • 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,872 Sqft ∙ Built 1999
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.92
    •  
  • 8774 Navidad Court Irving, TX 4
    • 3 beds 3 baths ∙ 2,914 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,914 Sqft ∙ Built 2002
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.94
    •  
  • 1111 Pedernales Trail Irving, TX 5
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2001
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Torang Nazmi
Aatrealty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415452
Last Updated: 08/20/2020
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