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3145 Irvine Drive Carrollton, TX 75007

4 Beds 3 Baths 2,210 sqft Built 1998

$315,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $142.53
  • 3 Days on Market
  • MLS # : 14459522
  • Updated Date : 11/01/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,210 sqft
  • Baths : 3 full
Listing Agent

International Luxury Estates

Listing Agent's Description

This lovely spacious home is located in the desirable Frankford Estates neighborhood & is walking distance to many biking & walking trails. This 4 bedroom 3 bath has an open floor plan & high ceilings that accentuate the natural light that pours in through the abundance of windows. It boasts an airy upstairs master suite, plenty of storage throughout & newly painted neutral walls. Landscaping includes: low-maintenance contemporary plantings in the front & a lush backyard that is among the largest in the community with 2 mature oaks enclosed by a new custom cedar privacy fence. The home has been meticulously maintained & is move in ready. This is undoubtedly one of premier homes in the neighborhood. A MUST SEE!

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: Frankford Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k302k

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

Neighborhood: Frankford Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261970

* 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
Dale B. Davis Elementary School Primary Regular 586 31 7
Charles M. Blalack Middle School Middle Regular 942 60 7
Creekview High School High Regular 1,964 124 7

Dale B. Davis Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 31
7
GreatSchools Rating

Charles M. Blalack Middle School

  • Education Level: Middle
  • # of students: 942
  • # of teachers: 60
7
GreatSchools Rating

Creekview High School

  • Education Level: High
  • # of students: 1,964
  • # of teachers: 124
7
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,162
Property Tax -$575
Property Insurance -$155
HOA -$17
Property Management Fees -$99
CASH FLOW
$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$37,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,166

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$1,9753$2,0254$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3145 Irvine Drive Carrollton, TX 4
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 1509 Silverleaf Drive Carrollton, TX 1
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 1983
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.98
    •  
  • 3102 Sugarbush Lane Carrollton, TX 2
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1983
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.97
    •  
  • 3704 Standridge Drive Carrollton, TX 3
    • 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 1978
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.96
    •  
  • 1605 Delaford Drive Carrollton, TX 5
    • 4 beds 2 baths ∙ 2,285 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,285 Sqft ∙ Built 1979
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
Caroline Chatham
International Luxury Estates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459522
Last Updated: 11/01/2020
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