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2620 Fountain Drive Irving, TX 75063

4 Beds 4 Baths 4,121 sqft Built 2014

$729,000

List Price

$3,390

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $176.90
  • 2 Days on Market
  • MLS # : 14490676
  • Updated Date : 12/26/2020 at 08:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,121 sqft
  • Baths : 4 full
Listing Agent

Starpro Realty Inc.

Listing Agent's Description

Gorgeous North East facing Darling home 4 Bedroom,4 Baths, Formal Dining, Study, Game Room+Media Room in highly sought after community of Bridges of Las Colinas and Coppell ISD. Master & guest bedrooms with private baths on first floor. Gorgeous Chef’s Kitchen include oversized island,Granite counters,custom back splash, double Oven open to Generous Family Room with Soaring Ceiling and Cozy Fireplace! Master bedroom with granite counters in master bath and framed mirrors.Upstairs is a Large Game rm+Media rm, two secondary bedrms & 2 Full Baths.Upgrades throughout include hardwood floors, Plantation Shutters, Upgraded Carpets, upgraded Granite, Iron Door. Covered Patio for Outdoor living and 3 car tandem garage!

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: Las Colinas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $107k482k

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

Neighborhood: Las Colinas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10433419

* 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
 

$656,100$801,900$729,000

PURCHASE PRICE

$3,051$3,729$3,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,390
EXPENSES Loan Payment -$2,690
Property Tax -$1,611
Property Insurance -$265
HOA -$80
Property Management Fees -$99
CASH FLOW
-$1,355

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.

$729,000

PROJECTED PRICE

$3,390

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$38

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,390

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $3,699

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,390
1$3,3902$3,6003$3,7004$3,7955$3,800
$3,800
RENT COMPS ANALYSIS
  • 2620 Fountain Drive Irving, TX 1
    • 4 beds 4 baths ∙ 4,121 Sqft ∙ Built 2014 4 beds 4 baths ∙ 4,121 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $3,390
    • $0.82
    •  
  • 2212 Clearspring Drive Irving, TX 2
    • 4 beds 4 baths ∙ 4,267 Sqft ∙ Built 1998 4 beds 4 baths ∙ 4,267 Sqft ∙ Built 1998
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.84
    •  
  • 7312 Marquis Lane Irving, TX 3
    • 4 beds 5 baths ∙ 4,004 Sqft ∙ Built 2016 4 beds 5 baths ∙ 4,004 Sqft ∙ Built 2016
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.92
    •  
  • 4100 Saguaro Lane Irving, TX 4
    • 5 beds 5 baths ∙ 4,150 Sqft ∙ Built 2018 5 beds 5 baths ∙ 4,150 Sqft ∙ Built 2018
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,795
    • $0.91
    •  
  • 7038 Mesa Verde Avenue Irving, TX 5
    • 4 beds 5 baths ∙ 4,127 Sqft ∙ Built 2015 4 beds 5 baths ∙ 4,127 Sqft ∙ Built 2015
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ram Konara
Starpro Realty Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490676
Last Updated: 12/26/2020
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