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1005 Cadbury Lane Forney, TX 75126

4 Beds 4 Baths 2,916 sqft Built 2016

$369,999

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $126.89
  • 4 Days on Market
  • MLS # : 14526623
  • Updated Date : 03/04/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,916 sqft
  • Baths : 4 full
Listing Agent

Base Realty

Listing Agent's Description

Remarkable Highland home with spacious & open floor plan, vaulted ceilings, decorative archways, modern colorways and inviting eat-in kitchen. Notable 1st floor Interior features include hardwood floors, stone counters, built-in stainless appliances, can lighting, gas appliances, 2 dining areas, formal office, stone fireplace, mud area & Extra storage in garage. Commodious Master suite. Upstairs has a LARGE game room w built in bar & full bath. Exterior features include 2.5 garage, beautiful landscape, gutters, sprinklers & covered patio with extended slab. Great location across from HOA maintained greenbelt. Neighborhood amenities include resort style pool and high end club house. Great Schools and Community!

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: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k341k

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

Neighborhood: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262677

* 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
 

$332,999$406,999$369,999

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,285
Property Tax -$848
Property Insurance -$196
HOA -$47
Property Management Fees -$99
CASH FLOW
$55

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.

$369,999

PROJECTED PRICE

$2,530

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,499
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$18,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,646

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5004$2,5305$2,595
$2,595
RENT COMPS ANALYSIS
  • 1005 Cadbury Lane Forney, TX 4
    • 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.87
    •  
  • 1543 Tavistock Road Forney, TX 1
    • 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 2035 Avondown Road Forney, TX 2
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 2014 Rosebury Lane Forney, TX 3
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 1005 Finsbury Park Forney, TX 5
    • 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chase Crawford
Base Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526623
Last Updated: 03/04/2021
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