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1009 Edgefield Lane 
Forney, TX
75126
3 Beds 2 Baths 2,248 sqft
Built 2011
INVESTimate
$280,000
List Price
$79,950
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PROPERTY INFO
FACTS
- Built In 2011
- Price/Sqft : $124.56
- 3 Days on Market
- MLS # : 14417334
- Updated Date : 08/25/2020 at 19:13
CONSTRUCTION
- Beds : 3
- Floor Size : 2,248 sqft
- Baths : 2 full
Listing Agent
Keller Williams Rockwall
Listing Agent's Description
Welcome to your beautiful new home full of Luxury finishes! Stunning curb appeal with stone, mature trees, landscape, glass and iron door. This home has it all! Wood floors and Soaring coferred ceilings in Living Room with open floorplan to stunning kitchen, breakfast room, and formal dining. Gourmet kitchen has grand island, granite counters, stainless steel apps, 42in noddy alder cabinets, tumbled marble backsplash, and gas range. Large Owner Suite is a true oasis, en suite bath, framed mirrors, dual sinks, sep shower, garden tub and spacious walkin closet. Guest beds share hallway bath on 1st level. 2nd level Media Room prewired for speakers, screen, projector, w.storage, and can dual as office or play room.
SEE MORE
- . 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Devonshire
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Devonshire
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,180 |
| EXPENSES | Loan Payment | -$1,033 |
| Property Tax | -$707 | |
| Property Insurance | -$157 | |
| HOA | -$47 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$137
|
||
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.
$280,000
PROJECTED PRICE
$2,180
PROJECTED RENT
0.78%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 3.79% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,950
LOAN DETAILS
$1,033
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $70,000 |
| Loan Amount | $210,000 |
6.58
YEARS SAVED
$25,926
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,180
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,209
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
1009 Edgefield Lane Forney, TX 3
- 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,248 Sqft ∙ Built 2011
- Rent
- Rent Per SQFT
- $2,180
- $0.97
-
2021 Cone Flower Drive Forney, TX 1
- 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 2007
LEASED 05/27/20- Rent
- Rent Per SQFT
- $1,945
- $0.91
-
1020 Dunhill Forney, TX 2
- 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2014
LEASED 05/19/20- Rent
- Rent Per SQFT
- $2,150
- $1.00
-
1017 Somerset Circle Forney, TX 4
- 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2010
LEASED 06/02/20- Rent
- Rent Per SQFT
- $2,200
- $1.01
-
1551 Tavistock Road Forney, TX 5
- 4 beds 2 baths ∙ 2,273 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,273 Sqft ∙ Built 2016
LEASED 12/03/19- Rent
- Rent Per SQFT
- $2,295
- $1.01
PROPERTY LISTING DETAILS
Keller Williams Rockwall
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14417334
Last Updated: 08/25/2020
