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7613 Tallow Drive Irving, TX 75063

4 Beds 3 Baths 3,671 sqft Built 1989

$435,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $118.50
  • 4 Days on Market
  • MLS # : 14478687
  • Updated Date : 12/30/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,671 sqft
  • Baths : 2 full , 1 half
Listing Agent

League Real Estate

Listing Agent's Description

Welcome to the PRESTIGIOUS GUARD-GATED COMMUNITY of Hackberry Creek Estates! Make lasting memories in this stately home with ample space, warm and inviting natural light, multiple living and entertaining areas and so much more. Newly installed luxury vinyl plank and carpet. Large master retreat on first floor. Storage abounds. Built in desk functions as study at top of stairs. Spacious upstairs game or bonus room. Rear parking via alley. Short distance to highly desired Las Colinas Elementary. An AMAZING value! Floor plan and survey available upon request. The information provided is furnished by the owners and deemed reliable to the best of their knowledge, but should be verified by the purchaser.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$1,605
Property Tax -$961
Property Insurance -$239
HOA -$156
Property Management Fees -$99
CASH FLOW
-$90

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.

$435,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $3,093

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9703$3,0004$3,0005$3,299
$3,299
RENT COMPS ANALYSIS
  • 7613 Tallow Drive Irving, TX 2
    • 4 beds 3 baths ∙ 3,671 Sqft ∙ Built 1989 4 beds 3 baths ∙ 3,671 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.81
    •  
  • 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
    •  
  • 2311 Creekside Circle Irving, TX 3
    • 4 beds 4 baths ∙ 3,355 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,355 Sqft ∙ Built 1990
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.89
    •  
  • 2013 Mulberry Way Irving, TX 4
    • 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
    •  
  • 8706 Lohr Valley Road Irving, TX 5
    • 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 2007
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,299
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lori Beal
League Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478687
Last Updated: 12/30/2020
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