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420 Rio Grande Drive Irving, TX 75039

5 Beds 4 Baths 3,481 sqft Built 2011

$524,900

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $150.79
  • 6 Days on Market
  • MLS # : 14476468
  • Updated Date : 11/24/2020 at 17:55
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,481 sqft
  • Baths : 4 full
Listing Agent

Savvy Way Realty, Inc

Listing Agent's Description

Gorgeous Highland built North facing home in the Riverside Village community is for sale by owners. Neatly maintained with furnished designer Kobe blinds . This home has a highly desired floorplan with Master and a Guest suite downstairs with full baths and a separate study room in the front. Upstairs are 3 bedrooms, 2 full baths, game room with a window seat & storage and a spacious equipped media room. The backyard has a large covered patio with gas connection. Convenient access to all major highways (including 35, 635, 114 and 161). Community has walking trails for adults and parks for kids. 3 schools within couple of miles. Lifetime foundation warranty. Photos courtesy of EstateEcho.com

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: Riverside Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $107k519k

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

Neighborhood: Riverside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10433548

* 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
La Villita Elementary School Primary Regular 584 34 7
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

La Villita Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 34
7
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
 

$472,410$577,390$524,900

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$1,937
Property Tax -$1,160
Property Insurance -$228
HOA -$63
Property Management Fees -$99
CASH FLOW
-$136

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.

$524,900

PROJECTED PRICE

$3,350

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$16,750

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $3,316

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,0003$3,3504$3,4955$3,500
$3,500
RENT COMPS ANALYSIS
  • 420 Rio Grande Drive Irving, TX 3
    • 5 beds 4 baths ∙ 3,481 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,481 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $0.96
    •  
  • 7207 Paluxy Drive Irving, TX 1
    • 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2011
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.88
    •  
  • 7855 Southfork Bend Irving, TX 2
    • 5 beds 5 baths ∙ 3,456 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,456 Sqft ∙ Built 2014
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.87
    •  
  • 6715 Capistrano Street Irving, TX 4
    • 5 beds 4 baths ∙ 3,447 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,447 Sqft ∙ Built 2012
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.01
    •  
  • 7032 Comal Drive Irving, TX 5
    • 4 beds 3 baths ∙ 3,334 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,334 Sqft ∙ Built 2013
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Will Puente
Savvy Way Realty, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476468
Last Updated: 11/24/2020
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