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3059 Ivy Hill Lane Irving, TX 75063

4 Beds 3 Baths 2,843 sqft Built 2015

$499,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $175.84
  • 4 Days on Market
  • MLS # : 14479745
  • Updated Date : 12/05/2020 at 11:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,843 sqft
  • Baths : 3 full
Listing Agent

Dave Perry Miller Real Estate

Listing Agent's Description

**Multiple offers received, please submit best and final offer by Sunday (Dec 5 2020) at 10 am**Beautiful David Weekley home in Coppell ISD sits on a curve, resulting in an oversized backyard where you can create your own great outdoors. Nice landscaping and brick-and-stone facade provide curb appeal. Interior has open concept living-dining-kitchen spaces with easy patio access. Multipurpose home office or home school nook at the base of the stairs and first-floor bedroom-office-flex room create options for busy households. Highlights include gorgeous granite countertops, a large primary suite with extra sitting space and dual closets, a bi-level game room-playroom upstairs, and much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$449,910$549,890$499,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,844
Property Tax -$1,105
Property Insurance -$191
HOA -$114
Property Management Fees -$99
CASH FLOW
-$1,143

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

$2,210

PROJECTED RENT

0.44%

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

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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

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

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
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

-0.25

YEARS SAVED

-$90

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,964

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,7993$2,9004$3,1505$3,200
$3,200
RENT COMPS ANALYSIS
  • 3059 Ivy Hill Lane Irving, TX 1
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.78
    •  
  • 6727 Palo Duro Drive Irving, TX 2
    • 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,796 Sqft ∙ Built 2017
    property image
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,799
    • $1.00
    •  
  • 6744 Palo Duro Irving, TX 3
    • 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2017
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.10
    •  
  • 7273 Ridgepoint Drive Irving, TX 4
    • 4 beds 3 baths ∙ 3,085 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,085 Sqft ∙ Built 2015
    property image
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.02
    •  
  • 2510 Waterford Drive Irving, TX 5
    • 3 beds 3 baths ∙ 3,062 Sqft ∙ Built 1995 3 beds 3 baths ∙ 3,062 Sqft ∙ Built 1995
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.05
    •  
PROPERTY LISTING DETAILS
Monica Maldonado
Dave Perry Miller Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479745
Last Updated: 12/05/2020
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