Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1616 Travis Circle Irving, TX 75038

3 Beds 3 Baths 2,617 sqft Built 1985

$550,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $210.16
  • 4 Days on Market
  • MLS # : 14515098
  • Updated Date : 02/11/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,617 sqft
  • Baths : 3 full
Listing Agent

Nicole Andrews Group

Listing Agent's Description

Rare single story home in the highly desired gated & guarded Community of Cottonwood Valley. Enjoy Resort Style living in this sophisticated 3 bedroom 3 full bath home. Features two living areas, a formal dining room, wet bar, and dine in kitchen. The oversized master suite features large windows with plenty of natural light, a walk out door to a quiet side yard and a large Master bath. One guest room is an ensuite and the other guest bed can double as a study. The inviting backyard with deck is perfect for entertaining. Large playground and park are steps away. With the Four Seasons sports club only a golf cart ride away, enjoy golf, world-class dining, spa and fitness facility. This home is a MUST SEE!

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: Cottonwood Valley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $107k740k

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

Neighborhood: Cottonwood Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $10434209

* 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
Lee Elementary School Primary Regular 728 49 5
Travis Middle School Middle Regular 997 72 5
Macarthur High School High Regular 2,759 179 5

Lee Elementary School

  • Education Level: Primary
  • # of students: 728
  • # of teachers: 49
5
GreatSchools Rating

Travis Middle School

  • Education Level: Middle
  • # of students: 997
  • # of teachers: 72
5
GreatSchools Rating

Macarthur High School

  • Education Level: High
  • # of students: 2,759
  • # of teachers: 179
5
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$1,910
Property Tax -$1,215
Property Insurance -$178
HOA -$202
Property Management Fees -$99
CASH FLOW
-$785

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.

$550,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$8

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,624

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,4953$2,5004$2,6955$2,820
$2,820
RENT COMPS ANALYSIS
  • 1616 Travis Circle Irving, TX 5
    • 3 beds 3 baths ∙ 2,617 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,617 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.08
    •  
  • 809 W Northgate Drive Irving, TX 1
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 1965
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.02
    •  
  • 2808 N Britain Road Irving, TX 2
    • 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1972 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1972
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.98
    •  
  • 3705 Millswood Drive Irving, TX 3
    • 3 beds 4 baths ∙ 2,478 Sqft ∙ Built 1977 3 beds 4 baths ∙ 2,478 Sqft ∙ Built 1977
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
  • 2366 Hill N Dale Drive Irving, TX 4
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 1977
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.00
    •  
PROPERTY LISTING DETAILS
Nicole Andrews
Nicole Andrews Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515098
Last Updated: 02/11/2021
BESbswy