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1204 Churchill Drive Irving, TX 75060

3 Beds 2 Baths 1,647 sqft Built 1986

$319,990

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $194.29
  • 6 Days on Market
  • MLS # : 14480981
  • Updated Date : 12/22/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,647 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Completely renovated 3 bedroom, 2 bath with backyard paradise warmly welcomes you home! Stunning entry and formal dining room filled with natural light. Inviting living room with stately fireplace sits at the heart of the home. Extensive hardwood floors throughout, custom kitchen cabinets, granite counters in kitchen. Serene primary suite with vaulted ceiling and access to your backyard oasis. Newly updated pool with new pump, coping, plaster, and custom landscaping. Smart home with ring doorbell, security system and surround sound, custom pool, and landscape lighting. Media wiring throughout. See attached for additional property updates and information. Virtual tours available. 3D tour online!

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: South Delaware Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: South Delaware Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Britain Elementary School Primary Regular 672 47 3
Bowie Middle School Middle Regular 962 72 4
Nimitz High School High Regular 2,409 166 3

Britain Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 47
3
GreatSchools Rating

Bowie Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 72
4
GreatSchools Rating

Nimitz High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 166
3
GreatSchools Rating
 

$287,991$351,989$319,990

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,181
Property Tax -$707
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$349

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.

$319,990

PROJECTED PRICE

$1,760

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,547

INVESTMENT

$90,547

Down Payment
$79,998
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,998
Loan Amount $239,993
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,775

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,4953$1,7454$1,7505$1,760
$1,760
RENT COMPS ANALYSIS
  • 1204 Churchill Drive Irving, TX 5
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.07
    •  
  • 1504 Hux Court Irving, TX 1
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1992
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.06
    •  
  • 2521 Markland Street Irving, TX 2
    • 4 beds 3 baths ∙ 1,357 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,357 Sqft ∙ Built 1994
    property image
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.10
    •  
  • 2428 Markland Street Irving, TX 3
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1987
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.00
    •  
  • 2500 Markland Street Irving, TX 4
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1987
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
PROPERTY LISTING DETAILS
Christy Mullins
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480981
Last Updated: 12/22/2020
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