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1240 Tioga Drive Irving, TX 75063

3 Beds 3 Baths 2,252 sqft Built 2003

$355,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $157.64
  • 3 Days on Market
  • MLS # : 14481694
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,252 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Beautiful, one-owner home in Valley Ranch shows pride of ownership! Wonderful, large kitchen with sunroom that fits a large dining table. Spacious back yard with rock retaining wall and 8-foot board-on-board privacy fence with a gate opening to a tree-lined green space for a lovely nature view! List of upgrades includes tankless water heater, roof installed in 2018, Pentair full flow filter for kitchen sink and switch-start gas fireplace. Refrigerator stays with the home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$319,500$390,500$355,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,310
Property Tax -$784
Property Insurance -$157
HOA -$75
Property Management Fees -$99
CASH FLOW
-$136

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.

$355,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

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

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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,291

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1503$2,2904$2,3955$2,550
$2,550
RENT COMPS ANALYSIS
  • 1240 Tioga Drive Irving, TX 3
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.02
    •  
  • 745 Marble Canyon Circle Irving, TX 1
    • 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 1986
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.96
    •  
  • 8223 Dogwood Lane Irving, TX 2
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2000
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.00
    •  
  • 8723 Rugby Drive Irving, TX 4
    • 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,249 Sqft ∙ Built 2004
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.06
    •  
  • 8715 Lohr Valley Road Irving, TX 5
    • 3 beds 2 baths ∙ 2,436 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,436 Sqft ∙ Built 2006
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.05
    •  
PROPERTY LISTING DETAILS
Allison Michael
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481694
Last Updated: 12/04/2020
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