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2416 Creekside Circle Irving, TX 75063

4 Beds 3 Baths 3,329 sqft Built 1998

INVESTimate

$499,900

List Price

$3,030

$2,780 - $3,280

Rent Est.

$138,224

Investment Est.

$518,396 ( +3.70%) 1 YR EST. FORECAST

AVAILABLE

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AVAILABLE

1 YEAR
Gross Yield	7.27%
NOI	$12,177

15 YEAR
Yield	1.10%
Appreciation	2.90%
TOTAL RETURN	12.36%

PROPERTY INFO

August 24, 2020 RECENTLY ADDED

FACTS

Built In 1998
Price/Sqft : $150.17
3 Days on Market
MLS # : 14419681
Updated Date : 08/25/2020 at 02:00

CONSTRUCTION

Beds : 4
Floor Size : 3,329 sqft
Baths : 3 full

Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

VACANT! Don't miss this amazing 2-story home in a three car garage in a gated community! Home features an open floor plan with split bedrooms. Upper bonus room, great for entertaining! Fresh paint throughout! North facing property located in Las Colinas' premier golf community. Membership is available to Hackberry Creek Clubhouse, featuring a pool and tennis courts! Come tour today!

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MARKET HIGHLIGHTS

Dallas Market Report

. 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)

Neighborhood: Hackberry Creek Village

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

Neighborhood: Hackberry Creek Village

* 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

GreatSchools Rating

Barbara Bush Middle School

Education Level: Middle
# of students: 672
# of teachers: 44

GreatSchools Rating

Ranchview High School

Education Level: High
# of students: 843
# of teachers: 56

GreatSchools Rating

FINANCIALS

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$449,910$549,89000$499,900

PURCHASE PRICE

$2,727$3,33300$3,030

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$3,030
EXPENSES	Loan Payment	-$1,844
	Property Tax	-$1,105
	Property Insurance	-$220
	HOA	-$160
	Property Management Fees	-$99



CASH FLOW -$398

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.

$499,900

PROJECTED PRICE

$3,030

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	4.00%
Appreciation Year (1-5)	3.70%
Maintenance Year (1-5)	8.00%
Vacancy	7.37%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$138,224

Down Payment	$124,975
Rehab Estimate	$5,750
Closing Costs	$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$124,975
Loan Amount	$374,925

See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$2,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$3,030
LIST RENT
$0.91
LIST RENT PER SQFT

$3,046
COMP ESTIMATED VALUE
$0.92
COMP AVG. RENT PER SQFT

Comps Range

$2,800

1$2,8002$3,0003$3,0304$3,1005$3,450

$3,450

RENT COMPS ANALYSIS

3,329
PROPERTY SQFT
$0.92
AVG RENT PER SQFT
$3,046
ESTIMATED VALUE
$3,030
LIST RENT

2416 Creekside Circle Irving, TX 5

4 beds 3 baths ∙ 3,329 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 1998
Price

Price Per SQFT

$499,900

$150.17
2301 Honeylocust Drive Irving, TX 1

4 beds 3 baths ∙ 3,360 Sqft ∙ Built 1990 4 beds 3 baths ∙ 3,360 Sqft ∙ Built 1990
SOLD 03/23/20
Price

Price Per SQFT

$408,000

$121.43
2305 Creekside Circle Irving, TX 2

4 beds 5 baths ∙ 3,194 Sqft ∙ Built 1990 4 beds 5 baths ∙ 3,194 Sqft ∙ Built 1990
SOLD 01/22/20
Price

Price Per SQFT

$449,900

$140.86
2004 Lawndale Drive Irving, TX 3

4 beds 4 baths ∙ 3,385 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,385 Sqft ∙ Built 2007
SOLD 07/30/20
Price

Price Per SQFT

$459,999

$135.89
8639 Lohr Valley Road Irving, TX 4

4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,300 Sqft ∙ Built 2007
SOLD 03/16/20
Price

Price Per SQFT

$465,000

$140.91

2416 Creekside Circle Irving, TX 3

4 beds 3 baths ∙ 3,329 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 1998
Rent

Rent Per SQFT

$3,030

$0.91
7621 Lakecrest Circle Irving, TX 1

4 beds 3 baths ∙ 3,503 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,503 Sqft ∙ Built 1997
LEASED 12/02/19
Rent

Rent Per SQFT

$2,800

$0.80
2311 Creekside Circle Irving, TX 2

4 beds 4 baths ∙ 3,355 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,355 Sqft ∙ Built 1990
LEASED 08/02/19
Rent

Rent Per SQFT

$3,000

$0.89
3026 E Ivy Hill Lane Irving, TX 4

4 beds 5 baths ∙ 3,206 Sqft ∙ Built 2015 4 beds 5 baths ∙ 3,206 Sqft ∙ Built 2015
LEASED 08/11/20
Rent

Rent Per SQFT

$3,100

$0.97
7717 Sweetgum Drive Irving, TX 5

4 beds 4 baths ∙ 3,444 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,444 Sqft ∙ Built 1990
LEASED 11/08/19
Rent

Rent Per SQFT

$3,450

$1.00

PROPERTY LISTING DETAILS

Robert Jones
Offerpad Brokerage, Llc

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419681
Last Updated: 08/25/2020

2416 Creekside Circle Irving, TX 75063

INVESTimate

$499,900

$3,030

$138,224

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Las Colinas Elementary School

Barbara Bush Middle School

Ranchview High School

FINANCIALS

$449,910$549,89000$499,900

$2,727$3,33300$3,030

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$499,900

$3,030

0.61%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,844

0.92

$2,563

$499,900

$150.17

$448,658

$134.77

COMPS RANGE

PRICE COMPS ANALYSIS

$3,030

$0.91

$3,046

$0.92

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS