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7712 Heather Ridge Court Irving, TX 75063

4 Beds 4 Baths 2,824 sqft Built 2000

$439,900

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $155.77
  • 5 Days on Market
  • MLS # : 14503133
  • Updated Date : 01/20/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,824 sqft
  • Baths : 3 full , 1 half
Listing Agent

Sinu Pohar

Listing Agent's Description

Great 4 bedroom home with Master down and gameroom up. This is a newer home in a great subdivision with open floorplan, granite counters, and high ceilings.

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: Hackberry Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $107k575k

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

Neighborhood: Hackberry Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10433378

* 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
 

$395,910$483,890$439,900

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,528
Property Tax -$972
Property Insurance -$190
HOA -$171
Property Management Fees -$99
CASH FLOW
-$80

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.

$439,900

PROJECTED PRICE

$2,880

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$5.0k$0.0$5.0k$10k$15k

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$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,958

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,8503$2,8804$3,1005$3,250
$3,250
RENT COMPS ANALYSIS
  • 7712 Heather Ridge Court Irving, TX 3
    • 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,824 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.02
    •  
  • 2009 Mulberry Way Irving, TX 1
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1994
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
  • 2419 Creekside Circle Irving, TX 2
    • 3 beds 4 baths ∙ 2,658 Sqft ∙ Built 1994 3 beds 4 baths ∙ 2,658 Sqft ∙ Built 1994
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.07
    •  
  • 2008 Remington Drive Irving, TX 4
    • 4 beds 4 baths ∙ 2,960 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,960 Sqft ∙ Built 2017
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.05
    •  
  • 7915 Pimlico Lane Irving, TX 5
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2017
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.12
    •  
PROPERTY LISTING DETAILS
Sinu Pohar
Sinu Pohar
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503133
Last Updated: 01/20/2021
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