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1904 Remington Drive Irving, TX 75063

3 Beds 3 Baths 2,697 sqft Built 2017

$550,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $203.93
  • 3 Days on Market
  • MLS # : 14535076
  • Updated Date : 03/26/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,697 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

BEAUTIFUL K.Hovanian home in gated community at Villas at Mustang Park. Over 50k in upgrades including plantation shutters, ceramic tile & 42’ kitchen cabinets. Carrolton-Farmers Branch ISD with Elementary within walking distance. Located on large lot. Open floor plan with spacious great room with view to the large covered patio - ideal for entertaining. Home office with double doors near entry. Gameroom with storage and two bedrooms with a half bath on second floor. Security system, fully sodded yard, zone irrigation system, low-E vinyl windows, and high efficiency tankless water heater. Just 10 minutes from DFW.

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: Las Colinas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $107k482k

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

Neighborhood: Las Colinas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10433419

* 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
Las Colinas Elementary School Primary Regular 592 32 9
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

Las Colinas Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
9
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
 

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

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,910
Property Tax -$1,215
Property Insurance -$183
HOA -$125
Property Management Fees -$99
CASH FLOW
-$833

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

$2,700

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.8%
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 100% 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

-0.08

YEARS SAVED

$0

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,751

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,7003$2,7004$2,7005$3,100
$3,100
RENT COMPS ANALYSIS
  • 1904 Remington Drive Irving, TX 4
    • 3 beds 3 baths ∙ 2,697 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,697 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.00
    •  
  • 8715 Lohr Valley Road Irving, TX 1
    • 3 beds 2 baths ∙ 2,436 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,436 Sqft ∙ Built 2006
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.05
    •  
  • 8715 Rugby Drive Irving, TX 2
    • 4 beds 4 baths ∙ 2,636 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,636 Sqft ∙ Built 2005
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.02
    •  
  • 7712 Heather Ridge Court Irving, TX 3
    • 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2000
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
  • 2008 Remington Drive Irving, TX 5
    • 4 beds 4 baths ∙ 2,960 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,960 Sqft ∙ Built 2017
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.05
    •  
PROPERTY LISTING DETAILS
Kim Nikolis
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535076
Last Updated: 03/26/2021
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