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101 Brandon Lane Forney, TX 75126

3 Beds 3 Baths 2,571 sqft Built 1989

$419,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $163.32
  • 3 Days on Market
  • MLS # : 14464636
  • Updated Date : 11/06/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,571 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premier Legacy Real Estate Llc

Listing Agent's Description

Rare Opportunity for Double Lot, NO HOA Neighborhood, NO MUD TAX, Beautiful Ranch Home with Chicago Antique Brick, Huge Front Porch, Large Living with Beautiful Fireplace, Wood Floors, Chefs Kitchen with Tons of Cabinets, Walk In Pantry and Island for Prep. Open Concept Kitchen to Dining and Living Area. Large Master Bedroom, Double Vanities, Jacuzzi Tub and Large Walk In Shower - Double Closets. Perfect Home with Split Bedrooms for Large Family and 2 Living Areas. Massive Closets and Storage. Outside Patio for Grilling and Fun! Fenced for Pets. Very well maintained home! Room in Attic to Add Bonus Room.

SEE MORE

MARKET HIGHLIGHTS

  • . 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: Bluff View Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Bluff View Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Criswell Elementary School Primary Regular 562 32 8
Criswell Elementary School Middle Regular 562 32 8
North Forney High School High Regular 1,274 83 7

Criswell Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

Criswell Elementary School

  • Education Level: Middle
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

North Forney High School

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

$377,910$461,890$419,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,549
Property Tax -$962
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
-$926

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$419,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$56

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,915

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,7954$1,8605$2,285
$2,285
RENT COMPS ANALYSIS
  • 101 Brandon Lane Forney, TX 4
    • 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.72
    •  
  • 123 Freedom Trail Forney, TX 1
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2006
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 520 Tumbleweed Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2002
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.71
    •  
  • 613 Fox Forney, TX 3
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2005
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 134 Kelli Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 2007
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,285
    • $0.80
    •  
PROPERTY LISTING DETAILS
Kim Bigley
Premier Legacy Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464636
Last Updated: 11/06/2020
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