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2240 Luckenbach Lane Irving, TX 75063

4 Beds 4 Baths 4,028 sqft Built 2008

$650,000

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $161.37
  • 6 Days on Market
  • MLS # : 14464141
  • Updated Date : 11/03/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,028 sqft
  • Baths : 4 full
Listing Agent

Listing Spark

Listing Agent's Description

Beautifully updated 2 story North-facing home in much sought-after Coppell ISD with two master suites on a premium 150 ft X 55 ft lot. Large, oversized, fenced, & gated backyard with extended patio. Excellent location close to schools, stores, parks, entertainment & temple. Upgraded real hardwood on both floors. Spacious family room. A bedroom, full bath, study, formal living & dining with raised ceilings downstairs. Curved staircase leads to the huge game room. Connected to game room is a large media room with 150 inch screen & 7.1 surround sound. Owner's suite with balcony, fire place, spacious walk-in closet, double vanity sinks, walk-in shower, jetted bathtub. A junior master with balcony. Central vacuum.

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: Emerald Valley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $107k445k

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

Neighborhood: Emerald Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10433071

* 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
Pinkerton Elementary School Primary Regular 322 25 9
Coppell Middle West Middle Regular 979 62 9
Coppell High School High Regular 3,136 192 8

Pinkerton Elementary School

  • Education Level: Primary
  • # of students: 322
  • # of teachers: 25
9
GreatSchools Rating

Coppell Middle West

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 62
9
GreatSchools Rating

Coppell High School

  • Education Level: High
  • # of students: 3,136
  • # of teachers: 192
8
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,398
Property Tax -$1,436
Property Insurance -$260
HOA -$47
Property Management Fees -$99
CASH FLOW
-$980

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.

$650,000

PROJECTED PRICE

$3,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$26

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,273

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,2003$3,2604$3,2995$3,500
$3,500
RENT COMPS ANALYSIS
  • 2240 Luckenbach Lane Irving, TX 3
    • 4 beds 4 baths ∙ 4,028 Sqft ∙ Built 2008 4 beds 4 baths ∙ 4,028 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $0.81
    •  
  • 1112 Cedar Valley Drive Irving, TX 1
    • 5 beds 4 baths ∙ 4,041 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,041 Sqft ∙ Built 2002
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.78
    •  
  • 8711 Lost Canyon Road Irving, TX 2
    • 5 beds 5 baths ∙ 4,088 Sqft ∙ Built 2007 5 beds 5 baths ∙ 4,088 Sqft ∙ Built 2007
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.78
    •  
  • 8706 Lohr Valley Road Irving, TX 4
    • 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 2007
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,299
    • $0.85
    •  
  • 7601 Primrose Drive Irving, TX 5
    • 4 beds 4 baths ∙ 4,147 Sqft ∙ Built 1992 4 beds 4 baths ∙ 4,147 Sqft ∙ Built 1992
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464141
Last Updated: 11/03/2020
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