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216 Concho Drive 
Irving, TX
75039
4 Beds 4 Baths 3,540 sqft
Built 2013
INVESTimate
$535,000
List Price
$147,525
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PROPERTY INFO
FACTS
- Built In 2013
- Price/Sqft : $151.13
- 2 Days on Market
- MLS # : 14420052
- Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
- Beds : 4
- Floor Size : 3,540 sqft
- Baths : 2 full , 2 half
Listing Agent
Ultima Real Estate
Listing Agent's Description
216 Concho Dr. is the culmination of creative design with functional attention to detail. This house was made for entertaining or just lounging with loved ones. Soaring ceilings await you upon entry to the open concept living area. Gather around the kitchen, featuring custom 62 inch cabinets, granite countertops & built in dining benches. Relax outside under 400 Sqft of pergola shade and cook on the built in Viking grill. Retreat to the Master suite adorned with custom cornice boards, large walk in closet and garden tub. Upstairs you'll find a large game room, wet bar, and media room. With 4 bedrooms and a flex room there is plenty of space. Oversized garage with ample storage and spice kitchen. <3
SEE MORE
- . 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: Riverside Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Riverside Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,350 |
| EXPENSES | Loan Payment | -$1,974 |
| Property Tax | -$1,182 | |
| Property Insurance | -$232 | |
| HOA | -$125 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$262
|
||
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.
$535,000
PROJECTED PRICE
$3,350
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 3.94% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$147,525
LOAN DETAILS
$1,974
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $133,750 |
| Loan Amount | $401,250 |
2.08
YEARS SAVED
$9,162
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,350
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$3,425
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
-
216 Concho Drive Irving, TX 3
- 4 beds 4 baths ∙ 3,540 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,540 Sqft ∙ Built 2013
- Rent
- Rent Per SQFT
- $3,350
- $0.95
-
7040 Comal Drive Irving, TX 1
- 4 beds 3 baths ∙ 3,380 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,380 Sqft ∙ Built 2013
LEASED 10/01/19- Rent
- Rent Per SQFT
- $3,295
- $0.97
-
7824 Southfork Bend Irving, TX 2
- 4 beds 5 baths ∙ 3,651 Sqft ∙ Built 2014 4 beds 5 baths ∙ 3,651 Sqft ∙ Built 2014
LEASED 06/01/20- Rent
- Rent Per SQFT
- $3,350
- $0.92
-
6715 Capistrano Street Irving, TX 4
- 5 beds 4 baths ∙ 3,447 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,447 Sqft ∙ Built 2012
LEASED 03/02/20- Rent
- Rent Per SQFT
- $3,495
- $1.01
-
7878 Swenson Drive Irving, TX 5
- 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2016
LEASED 11/12/19- Rent
- Rent Per SQFT
- $3,500
- $0.97
PROPERTY LISTING DETAILS
Ultima Real Estate
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14420052
Last Updated: 08/25/2020
