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

6824 Verandah Way Irving, TX 75039

4 Beds 4 Baths 2,842 sqft Built 2021

$542,263

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $190.80
  • 3 Days on Market
  • MLS # : 14527287
  • Updated Date : 03/05/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,842 sqft
  • Baths : 3 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

NEW DAVID WEEKLEY HOME in The Terraces of Las Colinas. The Laurinda plan with 3rd floor game room features 3 bedrooms, 3.5 baths, study and covered patio. Walk in to a large entry with study, then pass through to the large living, dining and kitchen. On the second floor you will find the owners retreat and two more bedrooms, both with on suite baths. Head on up to the 3rd floor for a private flexible space that can be a game room, media room, classroom, home gym or whatever your needs are. This home offers both flexibility and privacy in design.

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: Las Colinas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $107k482k

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

Neighborhood: Las Colinas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $10433419

* 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
 

$488,037$596,489$542,263

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$1,883
Property Tax -$1,686
Property Insurance -$191
HOA -$100
Property Management Fees -$99
CASH FLOW
-$860

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$542,263

PROJECTED PRICE

$3,100

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 3.00%
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-$18k-$16k-$14k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,700

INVESTMENT

$145,700

Down Payment
$135,566
Rehab Estimate
$2,000
Closing Costs
$8,134

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,883

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,566
Loan Amount $406,697
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$31

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $3,055

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0003$3,1004$3,2005$3,300
$3,300
RENT COMPS ANALYSIS
  • 6824 Verandah Way Irving, TX 3
    • 4 beds 4 baths ∙ 2,842 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,842 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.09
    •  
  • 7322 Comal Drive Irving, TX 1
    • 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,650 Sqft ∙ Built 2009
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.09
    •  
  • 6835 Deleon Street Irving, TX 2
    • 3 beds 3 baths ∙ 2,848 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,848 Sqft ∙ Built 2016
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.05
    •  
  • 220 Guadalupe Drive Irving, TX 4
    • 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 2009
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.06
    •  
  • 400 Rio Grande Drive Irving, TX 5
    • 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2011
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527287
Last Updated: 03/05/2021
BESbswy