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1224 Tioga Drive Irving, TX 75063

5 Beds 4 Baths 2,958 sqft Built 2003

$423,500

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $143.17
  • 4 Days on Market
  • MLS # : 14495400
  • Updated Date : 01/08/2021 at 23:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,958 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Pristine 5 Bedroom, 3.1 Bath home in desirable Valley Ranch! Gorgeous drive up appeal with beautiful landscaping, trees and a covered porch for relaxing. Welcoming grand entryway with vaulted ceilings, hardwood flooring and lots of natural light. Open concept design with gourmet kitchen featuring an island and breakfast bar. The 3 spacious living areas, including upstairs game room, is an entertainer's dream. BONUS!..TWO MASTER SUITES, with private baths. Additional amenities include 2 year old roof, stable tension beam foundation (built by an engineer), NEW paint, carpet, light fixtures, ceiling fans . 8' privacy fence and added patio area ensures a low maintenance backyard ready for family gatherings.

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: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $107k392k

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

Neighborhood: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10432590

* 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
Bernice Chatman Freeman Elementary School Primary Regular 541 32 6
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

Bernice Chatman Freeman Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 32
6
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
 

$381,150$465,850$423,500

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,471
Property Tax -$936
Property Insurance -$198
HOA -$88
Property Management Fees -$99
CASH FLOW
-$231

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.

$423,500

PROJECTED PRICE

$2,560

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,978

INVESTMENT

$117,978

Down Payment
$105,875
Rehab Estimate
$5,750
Closing Costs
$6,353

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,471

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,875
Loan Amount $317,625
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,736

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,6953$2,7254$2,7505$2,900
$2,900
RENT COMPS ANALYSIS
  • 1224 Tioga Drive Irving, TX 1
    • 5 beds 4 baths ∙ 2,958 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,958 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.87
    •  
  • 9010 Jasmine Lane Irving, TX 2
    • 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,073 Sqft ∙ Built 2000
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.88
    •  
  • 1128 Stone Gate Drive Irving, TX 3
    • 4 beds 3 baths ∙ 2,961 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,961 Sqft ∙ Built 1995
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.92
    •  
  • 2009 Mulberry Way Irving, TX 4
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1994
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
  • 1111 Pedernales Trail Irving, TX 5
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2001
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Donna Wall
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495400
Last Updated: 01/08/2021
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