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1809 Westshore Court Irving, TX 75060

4 Beds 4 Baths 2,451 sqft Built 1989

INVESTimate

$520,000

List Price

$1,990

$1,791 - $2,189

Rent Est.

$571,324  ( +9.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $212.16
  • 6 Days on Market
  • MLS # : 14415388
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,451 sqft
  • Baths : 2 full , 2 half
Listing Agent

Ready Real Estate

Listing Agent's Description

Exquisite Lake Front Property on Lake Vilibig. Amazing view, 4 bedroom, 2.5 bath boasts beautiful marble flooring, granite counter tops throughout, granite backsplash in the kitchen, SS appliances, all bathrooms updated with marble and granite. Outdoor living and kitchen with granite also half restroom with outdoor shower with amazing views of the lake including palm trees adorning the backyard. Your very own oasis! Come out and see it today!! WONT LAST LONG!! Alarm contract will forward or equipment will be removed due to contract.

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: Garden Isles

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $107k243k

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

Neighborhood: Garden Isles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600165017001750Rent in $10431770

* 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
Elliott Elementary School Primary Regular 716 44 6
Lamar Middle School Middle Regular 809 58 5
Nimitz High School High Regular 2,409 166 3

Elliott Elementary School

  • Education Level: Primary
  • # of students: 716
  • # of teachers: 44
6
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 58
5
GreatSchools Rating

Nimitz High School

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

$468,000$572,000$520,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$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$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,919
Property Tax -$1,149
Property Insurance -$169
HOA -$4
Property Management Fees -$99
CASH FLOW
-$1,350

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.

$520,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,358

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,961

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,9904$2,100
$2,100
RENT COMPS ANALYSIS
  • 1809 Westshore Court Irving, TX 3
    • 4 beds 4 baths ∙ 2,451 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,451 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.81
    •  
  • 508 Runstone Drive Irving, TX 1
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1979
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 2128 Meandering Drive Irving, TX 2
    • 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1970
    property image
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 1107 Katelyn Court Irving, TX 4
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2006
    property image
    LEASED 03/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
PROPERTY LISTING DETAILS
Brenda Paniagua
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415388
Last Updated: 08/21/2020
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