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423 San Marcos Drive Irving, TX 75039

5 Beds 4 Baths 3,423 sqft Built 2012

INVESTimate

$524,000

List Price

$3,190

$2,940 - $3,440

Rent Est.

$544,646  ( +3.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $153.08
  • 8 Days on Market
  • MLS # : 14415232
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,423 sqft
  • Baths : 4 full
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

A beautiful 5 bed and 4 bath house in Las Colinas with one of the largest back yards is ready for move-in. Spacious master bed and closet. Study can be used as a second bedroom on the first floor with full bath. Formal dining area with high ceiling, spacious kitchen with great natural light, two massive islands for the family chef, breakfast bar and a great open high ceiling living area. Fresh paint,wood and new carpet. Second floor boasts a game room and 3 bedrooms with 2 baths.Extra b-room upstairs can be used as an office. HUGE backyard.Toyota music factory.Easily accessible to major highways I-35, 635,161, 114.Tax showing on county record is very high. DCURD exempt avail to lower prop taxes.

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: 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
 

$471,600$576,400$524,000

PURCHASE PRICE

$2,871$3,509$3,190

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$1,933
Property Tax -$1,158
Property Insurance -$225
HOA -$121
Property Management Fees -$99
CASH FLOW
-$346

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.

$524,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.94%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,610

INVESTMENT

$144,610

Down Payment
$131,000
Rehab Estimate
$5,750
Closing Costs
$7,860

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,000
Loan Amount $393,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,029

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $3,158

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,0003$3,1904$3,2955$3,500
$3,500
RENT COMPS ANALYSIS
  • 423 San Marcos Drive Irving, TX 3
    • 5 beds 4 baths ∙ 3,423 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,423 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.93
    •  
  • 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
    •  
  • 7040 Comal Drive Irving, TX 4
    • 4 beds 3 baths ∙ 3,380 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,380 Sqft ∙ Built 2013
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $0.97
    •  
  • 7878 Swenson Drive Irving, TX 5
    • 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2016
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Cherian Joseph
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415232
Last Updated: 08/20/2020
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