Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3602 Adriana Avenue Irving, TX 75038

4 Beds 3 Baths 2,778 sqft Built 2016

INVESTimate

$429,000

List Price

$2,710

$2,460 - $2,960

Rent Est.

$457,100  ( +6.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $154.43
  • 7 Days on Market
  • MLS # : 14412630
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,778 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

This like new 4 bedroom turnkey comes with all the bells & whistles! Kitchen highlights include recessed lights, upgraded hardware & fixtures, ss appliances, double ovens, gas burner cook top, & tons of custom cabinets & granite counter space for grand scale cooking. Luxury finishes & exquisite upgrades gives the home a touch of grandeur throughout. Additional features include game room, 8 inch crown molding, surround sound, solid iron front door, frameless windows in living room for clear sight lines, granite counters in all baths, mudroom off the garage. Beautifully manicured landscape & extended patio on over-sized corner lot. Easy access to major highways & treasure trove of amenities & conveniences nearby.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75038

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k302k

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

Zip Code: 75038

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10432877

* 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
Townsell Elementary School Primary Regular 898 56 4
Houston Middle School Middle Regular 925 66 5
Macarthur High School High Regular 2,759 179 5

Townsell Elementary School

  • Education Level: Primary
  • # of students: 898
  • # of teachers: 56
4
GreatSchools Rating

Houston Middle School

  • Education Level: Middle
  • # of students: 925
  • # of teachers: 66
5
GreatSchools Rating

Macarthur High School

  • Education Level: High
  • # of students: 2,759
  • # of teachers: 179
5
GreatSchools Rating
 

$386,100$471,900$429,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,583
Property Tax -$948
Property Insurance -$188
HOA -$47
Property Management Fees -$99
CASH FLOW
-$154

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.

$429,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$11,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,688

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,7004$2,7105$2,895
$2,895
RENT COMPS ANALYSIS
  • 3602 Adriana Avenue Irving, TX 4
    • 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.98
    •  
  • 4821 Empire Way Irving, TX 1
    • 4 beds 4 baths ∙ 2,608 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,608 Sqft ∙ Built 2014
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
  • 5015 Dominion Boulevard Irving, TX 2
    • 3 beds 3 baths ∙ 2,891 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,891 Sqft ∙ Built 2013
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.92
    •  
  • 4951 Dominion Boulevard Irving, TX 3
    • 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2013
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.00
    •  
  • 3412 Calico Drive Irving, TX 5
    • 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2019
    property image
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sean Arago
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14412630
Last Updated: 08/20/2020
BESbswy