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216 Concho Drive Irving, TX 75039

4 Beds 4 Baths 3,540 sqft Built 2013

INVESTimate

$535,000

List Price

$3,350

$3,100 - $3,600

Rent Est.

$556,079  ( +3.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
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

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: Riverside Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $107k519k

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

Neighborhood: Riverside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10433548

* 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
La Villita Elementary School Primary Regular 584 34 7
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

La Villita Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 34
7
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
 

$481,500$588,500$535,000

PURCHASE PRICE

$3,015$3,685$3,350

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

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
$3,295
1$3,2952$3,3503$3,3504$3,4955$3,500
$3,500
RENT COMPS ANALYSIS
  • 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
Chinh Nguyen
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420052
Last Updated: 08/25/2020
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