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400 Island Court Irving, TX 75060

3 Beds 2 Baths 1,368 sqft Built 1986

$237,500

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $173.61
  • 2 Days on Market
  • MLS # : 14475527
  • Updated Date : 11/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 2 full
Listing Agent

William Davis Realty

Listing Agent's Description

Beautiful home on cul-de-sac lot with shades trees and huge back yard. Updated in 2020 carpeting, vinyl floors, master bath with walk in shower and updated cabinets, granite in kitchen with undermount sink and faucet, SS microwave above stove and SS dishwasher, 4 ceiling fans with lights , updated lighting, faucets and tub fixtures in both bath rooms. Washer and Dryer stay. Sprinkler system and so much more.

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

Neighborhood: Garden Isles

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $107k243k

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

Neighborhood: Garden Isles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600165017001750Rent in $10431770

* 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
Townley Elementary School Primary Regular 731 46 5
De Zavala Middle School Middle Regular 860 62 5
Nimitz High School High Regular 2,409 166 3

Townley Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 46
5
GreatSchools Rating

De Zavala Middle School

  • Education Level: Middle
  • # of students: 860
  • # of teachers: 62
5
GreatSchools Rating

Nimitz High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 166
3
GreatSchools Rating
 

$213,750$261,250$237,500

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$876
Property Tax -$525
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$16

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.

$237,500

PROJECTED PRICE

$1,590

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,688

INVESTMENT

$68,688

Down Payment
$59,375
Rehab Estimate
$5,750
Closing Costs
$3,563

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$876

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,375
Loan Amount $178,125
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,587

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5903$1,6754$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 400 Island Court Irving, TX 2
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.16
    •  
  • 2213 Ruby Road Irving, TX 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1973
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.12
    •  
  • 2809 Shadylake Court Irving, TX 3
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1974
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.18
    •  
  • 2712 Harvest Lake Drive Irving, TX 4
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1983
    property image
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.15
    •  
  • 2802 Bridge Lake Drive Irving, TX 5
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1984
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.19
    •  
PROPERTY LISTING DETAILS
Rosemarie Hrncir
William Davis Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475527
Last Updated: 11/21/2020
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