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319 Old York Road Irving, TX 75063

3 Beds 2 Baths 1,360 sqft Built 1993

$309,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $227.87
  • 3 Days on Market
  • MLS # : 14470134
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

VACANT! Don't miss the chance to see this beautiful home! Upgrades galore! New appliances, new flooring and fresh paint throughout! Granite countertops in the kitchen and a cozy fireplace in the living room. Convenient split floorplan! Close to shopping and dining. Come tour today!

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: Beacon Hill Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $107k365k

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

Neighborhood: Beacon Hill Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10432171

* 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
Tom Landry Elementary School Primary Regular 466 27 2
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

Tom Landry Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 27
2
GreatSchools Rating

Barbara Bush Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 44
4
GreatSchools Rating

Ranchview High School

  • Education Level: High
  • # of students: 843
  • # of teachers: 56
5
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,143
Property Tax -$685
Property Insurance -$106
HOA -$123
Property Management Fees -$99
CASH FLOW
-$556

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.

$309,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8503$1,8954$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 319 Old York Road Irving, TX 1
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.18
    •  
  • 800 Elkhorn Path Irving, TX 2
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1984
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.19
    •  
  • 8111 Locust Street Irving, TX 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2000
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.18
    •  
  • 302 Cimarron Trail Irving, TX 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1984
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.17
    •  
  • 307 Red River Trail Irving, TX 5
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1987
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.17
    •  
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 #: 14470134
Last Updated: 11/13/2020
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