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1737 Ironworks Drive Dallas, TX 75253

4 Beds 2 Baths 1,915 sqft Built 2006

INVESTimate

$215,000

List Price

$1,680

$1,512 - $1,848

Rent Est.

$240,478  ( +11.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $112.27
  • 3 Days on Market
  • MLS # : 14414448
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,915 sqft
  • Baths : 2 full
Listing Agent

Results Property Group, Llc

Listing Agent's Description

One story open concept high ceilings, 4 bedroom, 2 bath, very well maintained home. Wood burning fireplace and nice greenbelt behind the home. Roof is only 2 years old. Email uploaded Covid form to listing agent before showing is approved. Please refer to the showing instructions.

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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: Wright Farms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Wright Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
Kleberg Elementary School Primary Regular 619 41 4
Seagoville Middle School Middle Regular 1,151 68 3
Seagoville High School High Regular 1,289 77 3

Kleberg Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 41
4
GreatSchools Rating

Seagoville Middle School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 68
3
GreatSchools Rating

Seagoville High School

  • Education Level: High
  • # of students: 1,289
  • # of teachers: 77
3
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$793
Property Tax -$510
Property Insurance -$138
HOA -$72
Property Management Fees -$99
CASH FLOW
$68

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.

$215,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.85%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,656

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5754$1,5955$1,680
$1,680
RENT COMPS ANALYSIS
  • 1737 Ironworks Drive Dallas, TX 5
    • 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,915 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.88
    •  
  • 1522 Edd Road Dallas, TX 1
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1990
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 960 Ranch Road Dallas, TX 2
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2015
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 14012 Caltha Drive Dallas, TX 3
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2003
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 1949 Temper Lane Dallas, TX 4
    • 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,924 Sqft ∙ Built 2008
    property image
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
PROPERTY LISTING DETAILS
Sonia Flores
Results Property Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414448
Last Updated: 08/25/2020
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