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1107 Ranch Vista Dr
Irving, TX

1107 Ranch Vista Dr

$746,300
4 bd • 3 ba • 3,601 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$746,300

Price/Sq.Ft

$207

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 1107 Ranch Vista Dr, Irving, TX 75063 offers several attractive features: 1. Size: At 3,601 sqft, this house is significantly larger than the average home in Irving, providing ample space for families or those who need extra room. 2. Price per square foot: At $207.25/sqft, it's priced competitively compared to the Irving average, which typically ranges from $200-$250/sqft for similar properties. 3. Location: Ranch Vista Dr is in a desirable area of Irving, likely in or near Las Colinas, known for its master-planned community and proximity to amenities. 4. Bedrooms and Bathrooms: With 4 bedrooms and 3 bathrooms, the house can comfortably accommodate a large family or provide space for a home office and guest room. 5. Potential rental income: Based on the provided rental rates, a 4-bedroom home in Irving can potentially rent for $3,270/month (as of 2023), suggesting good investment potential. 6. Curb appeal: The image shows a well-maintained exterior with attractive brick facade, landscaping, and a two-car garage, enhancing its marketability. 7. Median Income: The area's median income of $97,704 suggests a stable neighborhood with potentially good schools and amenities.

The Bad

1. Unknown year built: Without knowing the age of the house, it's difficult to assess potential maintenance issues or the need for updates. 2. Lack of detailed information: The absence of property features, description, and room details makes it challenging to fully evaluate the property's condition and amenities. 3. No utility information: This gap in data makes it impossible to estimate ongoing costs accurately or assess the energy efficiency of the home. 4. Price point: At $746,300, this property is above the median home price in Irving (typically around $300,000-$400,000), which may limit the pool of potential buyers. 5. Potential HOA fees: If located in Las Colinas or a similar planned community, there may be significant HOA fees not factored into the listing price. 6. Possible airport noise: Given Irving's proximity to DFW International Airport, this property may be affected by aircraft noise, depending on its exact location. 7. Traffic concerns: Irving can experience heavy traffic, especially during peak hours, which could affect the quality of life for residents.

The Ugly

1. Foundation risks: Irving's clay soil can cause significant foundation issues. Without a proper inspection, there could be hidden problems that are expensive to repair. 2. Flood risk: Parts of Irving are in the Trinity River floodplain. If this property is in a flood-prone area, it could lead to high insurance costs and potential property damage. 3. Extreme weather vulnerability: North Texas experiences severe weather events like tornadoes and hailstorms. The property's resilience to these events is unknown without more information about its construction and any protective features. 4. High property taxes: Texas is known for high property taxes. On a $746,300 home, annual property taxes could easily exceed $15,000, significantly increasing the total cost of ownership. 5. Potential for overvaluation: Given the lack of interior photos and details, there's a risk that the property might not justify its price tag, especially if it needs significant updates or repairs. 6. Pest concerns: Texas homes can be susceptible to termites and other pests. Without a recent pest inspection, there could be hidden damage or infestation. 7. Market volatility: The real estate market can be unpredictable, and buying at a high price point increases the risk of negative equity if the market experiences a downturn.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for: 1. High-income families: With a price of $746,300, this home is ideal for households earning well above the area's median income of $97,704, likely in the $200,000+ range to comfortably afford the mortgage and associated costs. 2. Larger families: The 4 bedrooms and 3 bathrooms, along with 3,601 sqft of space, make it perfect for families with multiple children or those who need extra rooms for home offices or guests. 3. Professionals working in Las Colinas or Dallas: If located near Las Colinas, it's ideal for those working in this business district or commuting to Dallas, offering a balance of suburban living with proximity to work. 4. Buyers prioritizing space: Those looking for a spacious home in a good neighborhood will appreciate the ample square footage and likely well-planned layout. 5. Real estate investors: With potential rental income of $3,270/month for a 4-bedroom home, it could be attractive for long-term investment, especially if the property appreciates in value. 6. Buyers looking for a move-in ready home: The well-maintained exterior suggests the interior may also be in good condition, appealing to those who want to avoid immediate renovations. 7. Those seeking a stable community: The area's median income suggests a stable neighborhood, likely with good schools and amenities, appealing to families and professionals alike.

Not For

This property is not suitable for: 1. First-time homebuyers: The high price point and potential for additional costs (taxes, HOA fees) make this challenging for most first-time buyers. 2. Lower to middle-income households: Families earning near or below the median income of $97,704 would likely find this property unaffordable. 3. Downsizers or empty-nesters: The large size (3,601 sqft) may be too much space for those looking to reduce their living area and maintenance responsibilities. 4. Buyers on a tight budget: With high property taxes and potential HOA fees, the total cost of ownership could be substantial, not suitable for those with limited financial flexibility. 5. Those sensitive to noise: If the property is in a flight path of DFW Airport, it wouldn't be suitable for light sleepers or those working from home who require a quiet environment. 6. Buyers looking for a fixer-upper or to add significant value: The price point suggests this is likely a well-maintained property, offering less opportunity for major value-adding renovations. 7. Short-term residents: Given the high transaction costs associated with buying and selling, this wouldn't be ideal for those planning to move within a few years. 8. Those preferring urban living: While Irving has amenities, it's primarily suburban. Buyers seeking a more urban lifestyle with walkability to numerous restaurants and entertainment options might be disappointed.
Demographics
Area Median Income

$97,704

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Risk Assessment

Risk Analysis

1. Foundation issues: Irving's clay soil poses a significant risk of foundation problems. Repair costs can range from $5,000 to $15,000 or more, depending on the severity. 2. Flood risk: If the property is in or near the Trinity River floodplain, it could face a high risk of flooding. Flood insurance could cost $1,000 to $3,000 annually, depending on the risk level. 3. Extreme weather damage: North Texas is prone to severe storms, tornadoes, and hail. Potential damage could lead to costly repairs and increased insurance premiums. 4. High property taxes: Texas property taxes are among the highest in the nation. On a $746,300 home, annual taxes could easily exceed $15,000, potentially increasing over time. 5. Market volatility: The high price point increases vulnerability to market downturns. A 10% market correction could result in a loss of over $74,000 in property value. 6. Potential HOA issues: If part of an HOA, there's a risk of increasing fees, special assessments, or restrictive rules that could affect property use and value. 7. Airport noise: Proximity to DFW Airport could result in significant noise pollution, potentially affecting quality of life and future resale value. 8. Traffic congestion: Irving's location near major highways can lead to heavy traffic, potentially impacting commute times and overall livability. 9. Unknown property age and condition: Without details on the year built and interior condition, there's a risk of hidden issues or needed updates that could be costly. 10. Pest problems: Texas homes can be susceptible to termites and other pests. Undetected infestations could lead to structural damage and expensive treatments. 11. Energy efficiency concerns: Lack of utility information raises questions about the home's energy efficiency, potentially leading to high utility costs. 12. Overvaluation risk: The high price per square foot ($207.25) could be overvalued for the area, risking future appreciation potential.

Financials

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