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1439 Preakness Drive Irving, TX 75060

3 Beds 2 Baths 1,776 sqft Built 2008

$305,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $171.73
  • 4 Days on Market
  • MLS # : 14500808
  • Updated Date : 02/06/2021 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,776 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

This adorable home won’t last long in highly desired Graff Farms Community that's within walking distance to Stipes elementary. Once you step inside and see the freshly painted interior, new carpet, & lots of natural lighting, you will fall in love! Open living with vaulted ceilings, corner gas fireplace, split bedroom floorplan includes a flex space or home office. The main bedroom suite includes, walk-in shower, garden tub, plus dual sinks with a walk-in closet. Large open kitchen provides extra counter space & storage, high-quality cabinets, & SS appliances. Outside covered patio with surrounding flag stone pathway leads to a beautiful backyard perfect for entertaining with family and friends. Welcome Home!

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: Graff Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k322k

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

Neighborhood: Graff Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10432169

* 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
Stipes Elementary School Primary Regular 758 48 6
Lady Bird Johnson Middle School Middle Regular 1,002 65 4
Nimitz High School High Regular 2,409 166 3

Stipes Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 48
6
GreatSchools Rating

Lady Bird Johnson Middle School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 65
4
GreatSchools Rating

Nimitz High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,059
Property Tax -$674
Property Insurance -$130
HOA -$30
Property Management Fees -$99
CASH FLOW
-$22

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$11,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$1,9504$1,9505$1,970
$1,970
RENT COMPS ANALYSIS
  • 1439 Preakness Drive Irving, TX 5
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.11
    •  
  • 3411 Autumn View Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.06
    •  
  • 1639 Secretariat Lane Irving, TX 2
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2010
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
  • 1442 Furlong Court Irving, TX 3
    • 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2007
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.08
    •  
  • 3030 Cross Timbers Drive Irving, TX 4
    • 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 2006
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
PROPERTY LISTING DETAILS
Dalton Carroll
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500808
Last Updated: 02/06/2021
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