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7047 Nueces Drive Irving, TX 75039

3 Beds 3 Baths 2,678 sqft Built 2011

$479,000

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $178.86
  • 2 Days on Market
  • MLS # : 14514726
  • Updated Date : 03/06/2021 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,678 sqft
  • Baths : 2 full , 1 half
Listing Agent

Designer Realty

Listing Agent's Description

YOUR NEXT HOME! Location is everything! This house is conveniently located near George Bush and 635. As soon as you walk in, you're greeted by beautiful hand scrapped wood floors. Built by one of the top builders in DFW; Darling Homes, this home was built to last! Clean SD, with upgrades through out the house. MASTER bedroom down, with open concept living. Beautiful GRANITE counter tops, built in oven & microwave along with gas cooktop. This two story home has everything a growing family wants, with minimal maintenance. Enjoy the entertaining living space on the second floor with a game room and HUGE media room. Built in grill, and just enough yard space for your furry family members. This house is CLEAN!

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
 

$431,100$526,900$479,000

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$1,664
Property Tax -$1,229
Property Insurance -$182
HOA -$111
Property Management Fees -$99
CASH FLOW
-$355

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.

$479,000

PROJECTED PRICE

$2,930

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,664

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,853

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,959

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9303$2,9954$3,0005$3,275
$3,275
RENT COMPS ANALYSIS
  • 7047 Nueces Drive Irving, TX 2
    • 3 beds 3 baths ∙ 2,678 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,678 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $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
    •  
  • 423 Palacio Street Irving, TX 3
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2013
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.11
    •  
  • 6835 Deleon Street Irving, TX 4
    • 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
    •  
  • 6724 Castillo Street Irving, TX 5
    • 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2013
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $1.17
    •  
PROPERTY LISTING DETAILS
Luke Wiler
Designer Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514726
Last Updated: 03/06/2021
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