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7131 Isle Royal Lane Irving, TX 75063

3 Beds 4 Baths 2,452 sqft Built 2016

$470,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $191.68
  • 5 Days on Market
  • MLS # : 14472234
  • Updated Date : 11/18/2020 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,452 sqft
  • Baths : 3 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful East facing move-in ready home with open concept impresses on all levels. Rich upgraded hardwood flooring, high ceilings, 8 ft doors downstairs, archways and crown molding add to the high-end classic feel of this warm and inviting home. The kitchen is open to the living room with its electric fireplace and handsome mantel and surround. The kitchen is a chef's dream with ss appliances, a double oven, hood vent, 5 burner gas cooktop, and an island. Hard to find master with en-suite, plus an additional bedroom with en-suite located downstairs. Tranquil master retreat has spa-like private bath you must see. Cover brick patio with extended concrete patio. Finished rear-entry garage with epoxy finish.

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

Zip Code: 75063

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $107k424k

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

Zip Code: 75063

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10432720

* 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
Pinkerton Elementary School Primary Regular 322 25 9
Coppell Middle West Middle Regular 979 62 9
Coppell High School High Regular 3,136 192 8

Pinkerton Elementary School

  • Education Level: Primary
  • # of students: 322
  • # of teachers: 25
9
GreatSchools Rating

Coppell Middle West

  • Education Level: Middle
  • # of students: 979
  • # of teachers: 62
9
GreatSchools Rating

Coppell High School

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

$423,000$517,000$470,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,734
Property Tax -$1,039
Property Insurance -$169
HOA -$123
Property Management Fees -$99
CASH FLOW
-$563

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.

$470,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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-$14k-$12k-$10k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,593

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3503$2,6004$2,7005$2,900
$2,900
RENT COMPS ANALYSIS
  • 7131 Isle Royal Lane Irving, TX 3
    • 3 beds 4 baths ∙ 2,452 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,452 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.06
    •  
  • 8627 Calvin Road Irving, TX 1
    • 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 2008
    property image
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
  • 1523 Biltmore Lane Irving, TX 2
    • 3 beds 4 baths ∙ 2,273 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,273 Sqft ∙ Built 2007
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.03
    •  
  • 3742 Adriana Avenue Irving, TX 4
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2017
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.06
    •  
  • 6744 Palo Duro Irving, TX 5
    • 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2017
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.10
    •  
PROPERTY LISTING DETAILS
Carolina Dusenbery
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472234
Last Updated: 11/18/2020
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