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9929 Ironhorse Drive Dallas, TX 75227

3 Beds 3 Baths 1,624 sqft Built 2008

$225,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $138.55
  • 3 Days on Market
  • MLS # : 14518229
  • Updated Date : 02/13/2021 at 14:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,624 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Dallas two-story home offers a two-car garage. This home is vacant and cleaned regularly.

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: Parkway Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Parkway Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9311734

* 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
C.a. Tatum Jr. Elementary School Primary Regular 646 39 3
Ann Richards Middle School Middle Unknown 1,351 81 NA
Skyline High School High Magnet 4,790 283 3

C.a. Tatum Jr. Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 39
3
GreatSchools Rating

Ann Richards Middle School

  • Education Level: Middle
  • # of students: 1,351
  • # of teachers: 81
NA
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 4,790
  • # of teachers: 283
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$782
Property Tax -$533
Property Insurance -$121
HOA -$15
Property Management Fees -$99
CASH FLOW
-$70

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.

$225,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,474

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,4954$1,6355$1,665
$1,665
RENT COMPS ANALYSIS
  • 9929 Ironhorse Drive Dallas, TX 2
    • 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.91
    •  
  • 3408 Poplar Springs Lane Dallas, TX 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1995
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 9960 Rio Doso Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2008
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 9949 Chilmark Way Dallas, TX 4
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2017
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.92
    •  
  • 9913 Chilmark Way Dallas, TX 5
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 2017
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.95
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518229
Last Updated: 02/13/2021
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