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9934 Ironhorse Drive Dallas, TX 75227

4 Beds 3 Baths 1,884 sqft Built 2015

$235,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $124.73
  • 2 Days on Market
  • MLS # : 14505324
  • Updated Date : 01/23/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,884 sqft
  • Baths : 2 full , 1 half
Listing Agent

Modern Realty

Listing Agent's Description

Completely updated 4 bedroom 2 and a half bath home with large open living. Large upstairs master bedroom with 2 walk in closets and huge master bathroom. Home has many updates including luxury vinyl flooring, fresh paint, granite countertops, stainless steel appliances, and freshly installed carpet. All bedrooms are located upstairs. Do not miss out on the opportunity to make this your home. This location is also great for cash flow investment opportunities.

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: 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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$816
Property Tax -$557
Property Insurance -$136
HOA -$15
Property Management Fees -$99
CASH FLOW
$26

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.

$235,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.70%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,676

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6503$1,7254$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 9934 Ironhorse Drive Dallas, TX 2
    • 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 9960 Rio Doso Drive Dallas, TX 1
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 2008
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 3619 Rising Sun Lane Dallas, TX 3
    • 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2016
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.88
    •  
  • 3535 Apple Valley Way Dallas, TX 4
    • 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 1996
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.86
    •  
  • 9975 Rio Doso Drive Dallas, TX 5
    • 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2015
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
PROPERTY LISTING DETAILS
Quinn Sessums
Modern Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505324
Last Updated: 01/23/2021
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