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703 Marble Canyon Circle Irving, TX 75063

3 Beds 3 Baths 1,640 sqft Built 1991

$320,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $195.12
  • 2 Days on Market
  • MLS # : 14501364
  • Updated Date : 01/16/2021 at 21:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dfw Home

Listing Agent's Description

3-bed, 2.5-bath with attached 2-car garage located in Irving, Tx. Beautiful laminate flooring and clean carpet throughout. Eat-in kitchen includes all appliances. Master bath has dual sinks, separate shower and tub. Close to shopping, restaurants and major highway for convenient commute. Needs to verify schools, measurements, and all other info. New roof 2018, water heater 2018, range & oven 2018, new paint 2019, granite countertop 2019.

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: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $107k392k

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

Neighborhood: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10432590

* 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
Valley Ranch Elementary School Primary Regular 638 37 10
Coppell Middle East Middle Regular 905 55 10
Coppell High School High Regular 3,136 192 8

Valley Ranch Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 37
10
GreatSchools Rating

Coppell Middle East

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 55
10
GreatSchools Rating

Coppell High School

  • Education Level: High
  • # of students: 3,136
  • # of teachers: 192
8
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,111
Property Tax -$707
Property Insurance -$122
HOA -$42
Property Management Fees -$99
CASH FLOW
-$251

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.

$320,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,441

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8503$1,9004$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 703 Marble Canyon Circle Irving, TX 1
    • 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,640 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.12
    •  
  • 633 Fiesta Circle Irving, TX 2
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1984
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 308 Pecos Trail Irving, TX 3
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 1988
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.14
    •  
  • 302 Cimarron Trail Irving, TX 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1984
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.17
    •  
  • 907 Canal Irving, TX 5
    • 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1989
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.13
    •  
PROPERTY LISTING DETAILS
Li Wang
Dfw Home
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501364
Last Updated: 01/16/2021
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