Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $123.52
- 4 Days on Market
- MLS # : 14478633
- Updated Date : 12/03/2020 at 16:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,862 sqft
- Baths : 2 full
Listing Agent
Magnolia Realty Argyle
Listing Agent's Description
Welcome home to this single-story stunner! When you step in you're met with a spacious floorplan, 10' soaring ceilings, & wood-like luxury vinyl floors. Tall windows throughout let natural light stream into the home & illuminate the space. Imagine the holiday parties in your gorgeous kitchen with an oversized island & bar that overlooks your living room where you will enjoy time laughing with loved ones. Spend your afternoons out experiencing everything this growing community has to offer, a swimming pool, covered pavilion, playsets, & more. Located just minutes away from 80, The Harbor, Lake Ray Hubbard, shopping, restaurants, & zoned to Forney ISD. Don't miss out on this opportunity, schedule a showing today!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Travis Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,760 |
| EXPENSES | Loan Payment | -$849 |
| Property Tax | -$586 | |
| Property Insurance | -$135 | |
| HOA | -$30 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$61
|
||
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.
$230,000
PROJECTED PRICE
$1,760
PROJECTED RENT
0.77%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$66,700
LOAN DETAILS
$849
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $57,500 |
| Loan Amount | $172,500 |
5.5
YEARS SAVED
$16,217
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,760
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$1,755
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
1007 Grimes Drive Forney, TX 3
- 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $1,760
- $0.95
-
1026 Kimbro Drive Forney, TX 1
- 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2005
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,695
- $0.92
-
1015 Rumley Road Forney, TX 2
- 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2005
LEASED 09/17/20- Rent
- Rent Per SQFT
- $1,695
- $0.98
-
1019 Rumley Road Forney, TX 4
- 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005
LEASED 09/21/20- Rent
- Rent Per SQFT
- $1,775
- $0.90
-
1022 Cottontail Drive Forney, TX 5
- 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,800
- $0.97
PROPERTY LISTING DETAILS
Magnolia Realty Argyle
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14478633
Last Updated: 12/03/2020
