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7521 Sweetgum Drive Irving, TX 75063

4 Beds 4 Baths 3,588 sqft Built 1994

$499,500

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $139.21
  • 4 Days on Market
  • MLS # : 14455891
  • Updated Date : 11/02/2020 at 12:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,588 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Google-enabled smart home w updates galore! 2018-19 upgrades include paint, wood floors, kitchen, custom drapes, driveway, epoxy garage floor, Elfa storage, hail-resistant roof + smart switches, doorbell & garage door. Lovely 2-story foyer w winding staircase opens onto formal living & dining, plus study w Fr doors. Spacious great room has big arched windows, built-ins & gas FP w updated subway tile. Remodeled kitchen features subway tile b-splash, quartz countertops, butcher block waterfall island, SS appliances & gas cooktop. Main floor owner's retreat w sitting area & en suite bath. 2nd staircase off kitchen leads to game room, 3 beds & 2 baths up. Large fenced yard w sprinkler. 2-car rear gar w epoxy floor.

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: Hackberry Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $107k509k

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

Neighborhood: Hackberry Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10433383

* 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
Las Colinas Elementary School Primary Regular 592 32 9
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

Las Colinas Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
9
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
 

$449,550$549,450$499,500

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$1,843
Property Tax -$1,104
Property Insurance -$235
HOA -$189
Property Management Fees -$99
CASH FLOW
-$519

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.

$499,500

PROJECTED PRICE

$2,950

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.0%
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$138,118

INVESTMENT

$138,118

Down Payment
$124,875
Rehab Estimate
$5,750
Closing Costs
$7,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,843

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,875
Loan Amount $374,625
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$681

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,942

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8503$2,9504$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 7521 Sweetgum Drive Irving, TX 4
    • 4 beds 4 baths ∙ 3,588 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,588 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.82
    •  
  • 7621 Lakecrest Circle Irving, TX 1
    • 4 beds 3 baths ∙ 3,503 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,503 Sqft ∙ Built 1997
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.80
    •  
  • 700 Pistachio Circle Irving, TX 2
    • 4 beds 4 baths ∙ 3,606 Sqft ∙ Built 1989 4 beds 4 baths ∙ 3,606 Sqft ∙ Built 1989
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.79
    •  
  • 2109 Mossy Oak Drive Irving, TX 3
    • 4 beds 4 baths ∙ 3,436 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,436 Sqft ∙ Built 1993
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.86
    •  
  • 2013 Mulberry Way Irving, TX 5
    • 4 beds 4 baths ∙ 3,608 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,608 Sqft ∙ Built 1994
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Marci Barton
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455891
Last Updated: 11/02/2020
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