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7931 Banyan Way Irving, TX 75063

4 Beds 4 Baths 3,419 sqft Built 2021

$791,060

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $231.37
  • 6 Days on Market
  • MLS # : 14502232
  • Updated Date : 01/21/2021 at 16:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,419 sqft
  • Baths : 4 full
Listing Agent

Royal Realty, Inc.

Listing Agent's Description

New Grand Home in Valley Ranch across from high school. EAST facing home w FEB completion. Vaulted formal, family room, game room, enclosed media room & an upstairs Tech loft. Downstairs guest suite or home office. Wood floors, 8' interior doors & cast stone Fireplace. Kitchen has Shaker cabinetry, white contempo granite slab tops, 5 burner gas cook top has custom wood vent hood vented to outside, stainless appliances & Butlers Pantry. Breakfast Room has large window seat. Master Bath has free standing tub and separate vanities. Enlarged back patio with gas line for BBQ. Tankless water heater, Energy Star certified home with R 38, 16 SEER & Radiant Barrier Roof. Super convenient location!

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: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $107k392k

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

Neighborhood: Valley Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10432590

* 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
Tom Landry Elementary School Primary Regular 466 27 2
Barbara Bush Middle School Middle Regular 672 44 4
Ranchview High School High Regular 843 56 5

Tom Landry Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 27
2
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
 

$711,954$870,166$791,060

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$2,748
Property Tax -$1,472
Property Insurance -$225
HOA -$55
Property Management Fees -$99
CASH FLOW
-$1,458

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$791,060

PROJECTED PRICE

$3,140

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,631

INVESTMENT

$211,631

Down Payment
$197,765
Rehab Estimate
$2,000
Closing Costs
$11,866

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,748

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $197,765
Loan Amount $593,295
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$40

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,171

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,995
1$2,9952$3,0003$3,1404$3,3005$3,500
$3,500
RENT COMPS ANALYSIS
  • 7931 Banyan Way Irving, TX 3
    • 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $0.92
    •  
  • 7207 Paluxy Drive Irving, TX 1
    • 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,396 Sqft ∙ Built 2011
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.88
    •  
  • 7855 Southfork Bend Irving, TX 2
    • 5 beds 5 baths ∙ 3,456 Sqft ∙ Built 2014 5 beds 5 baths ∙ 3,456 Sqft ∙ Built 2014
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.87
    •  
  • 7911 Southfork Bend Irving, TX 4
    • 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,331 Sqft ∙ Built 2014
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.99
    •  
  • 7878 Swenson Drive Irving, TX 5
    • 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2016 5 beds 5 baths ∙ 3,615 Sqft ∙ Built 2016
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Stephen Brooks
Royal Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502232
Last Updated: 01/21/2021
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