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215 Harper Street Irving, TX 75063

4 Beds 3 Baths 1,863 sqft Built 2021

$477,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $256.04
  • 7 Days on Market
  • MLS # : 14537930
  • Updated Date : 03/25/2021 at 08:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,863 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14537930 - Built by Ashton Woods Homes - March completion! ~ New Ashton Woods home near Las Colinas, 13 miles to Dallas, near DFW Airport, HWY 635, PGBT 161, HWY 114 and 17 miles to Legacy West. This 2-story home with a brick exterior and wood window shutters. The kitchen eat-in island, ebony shaker style cabinets, Energy Star Whirlpool stainless steel appliances, built-in oven and microwave, Quartz countertops, matte black faucet, undermount sink, brass and bronze pendant lighting. Primary room’s bathroom with a double sink vanity, rubbed bronze shower frame and door handle, matte black plumbing fixtures and a walk-in closet. Amenity center, pool, fitness center and playground.

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: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $107k392k

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

Neighborhood: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10432590

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$429,300$524,700$477,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,657
Property Tax -$1,091
Property Insurance -$135
HOA -$200
Property Management Fees -$99
CASH FLOW
-$932

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$477,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
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-$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$128,405

INVESTMENT

$128,405

Down Payment
$119,250
Rehab Estimate
$2,000
Closing Costs
$7,155

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,250
Loan Amount $357,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$52

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,198

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,250
$2,250
RENT COMPS ANALYSIS
  • 215 Harper Street Irving, TX 2
    • 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 2021 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.21
    •  
  • 8744 Iron Horse Drive Irving, TX 1
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2007
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.18
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537930
Last Updated: 03/25/2021
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