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1001 Comfort Drive Forney, TX 75126

4 Beds 3 Baths 2,944 sqft Built 2005

$275,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $93.41
  • 5 Days on Market
  • MLS # : 14539636
  • Updated Date : 03/25/2021 at 18:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,944 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ultima Real Estate

Listing Agent's Description

Seller Finance ONLY. Privacy, elegance, and class are just a few adjectives to describe this home. This comfy 4 bedroom, 2.5 bathroom home gives you the ultimate in Texas Living. Perfect for entertaining, the open floor plan showcases volume and seamless indoor-outdoor flow. Style and sophistication are realized as the front door opens to the grand entry with soaring ceilings and laminate floors. A large family room, living room, kitchen, theatre, office, and outdoor hot tub await their new owner. Fully equipped with cutting edge technology including surround sound and security system. The possibilities are endless.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262024

* 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
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7
Brown Middle School Middle Unknown NA

Brown Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 41
7
GreatSchools Rating

North Forney High School

  • Education Level: High
  • # of students: 1,274
  • # of teachers: 83
7
GreatSchools Rating

Brown Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$955
Property Tax -$701
Property Insurance -$197
HOA -$30
Property Management Fees -$99
CASH FLOW
$217

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$27,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,311

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,2504$2,2955$2,375
$2,375
RENT COMPS ANALYSIS
  • 1001 Comfort Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,944 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,944 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 1106 Mule Deer Road Forney, TX 1
    • 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2006
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 1007 Concan Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 1007 Rumley Road Forney, TX 4
    • 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 2005
    property image
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.82
    •  
  • 1209 Templin Avenue Forney, TX 5
    • 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.80
    •  
PROPERTY LISTING DETAILS
Christian Martinez
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539636
Last Updated: 03/25/2021
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