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804 Olde Towne Drive Irving, TX 75061

3 Beds 4 Baths 2,493 sqft Built 1986

INVESTimate

$345,000

List Price

$1,930

$1,737 - $2,123

Rent Est.

$372,945  ( +8.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $138.39
  • 7 Days on Market
  • MLS # : 14416609
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,493 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful, home in the sought after Towne Lake neighborhood. Great entry way with lovely floors throughout. Family room includes wet bar, decorative fireplace, and access to backyard. Large kitchen with an abundance of storage! Double oven, vent hood, and breakfast area. Built in cabinets and desk space in kitchen. Bathrooms feature updated countertops Carpet in bedrooms. Master bedroom features high ceilings, seating area, and walkin closet. Separate vanities in master bth, standup shower, and garden tub. Beautiful, updated master bathroom! Walkin closet has built in shelving! Large backyard with open patio making it perfect for entertaining. Home is close to hiking trails and across the street from the park!

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: Townlake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k281k

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

Neighborhood: Townlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9452144

* 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
Davis Elementary School Primary Regular 880 57 4
Lady Bird Johnson Middle School Middle Regular 1,002 65 4
Irving High School High Regular 2,429 164 4

Davis Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 57
4
GreatSchools Rating

Lady Bird Johnson Middle School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 65
4
GreatSchools Rating

Irving High School

  • Education Level: High
  • # of students: 2,429
  • # of teachers: 164
4
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,273
Property Tax -$762
Property Insurance -$171
Property Management Fees -$99
CASH FLOW
-$376

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.

$345,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,945

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9303$1,9504$2,100
$2,100
RENT COMPS ANALYSIS
  • 804 Olde Towne Drive Irving, TX 2
    • 3 beds 4 baths ∙ 2,493 Sqft ∙ Built 1986 3 beds 4 baths ∙ 2,493 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.77
    •  
  • 4109 Crest Ridge Drive Irving, TX 1
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 1989
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 3500 Calle Del Sol Irving, TX 3
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 1968
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 1420 Carver Lane Irving, TX 4
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1988
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Billy Vaselo
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416609
Last Updated: 08/20/2020
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