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101 Zion Lane Forney, TX 75126

3 Beds 2 Baths 2,037 sqft Built 2015

INVESTimate

$268,900

List Price

$1,940

$1,746 - $2,134

Rent Est.

$284,389  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $132.01
  • 6 Days on Market
  • MLS # : 14417630
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,037 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Gorgeous like new energy-star rated Dunhill home located in the Park Trails Community of Forney.  This 3-bedroom with study, 2 bath, over-sized 3 car garage home sits on a corner lot adjacent to a community park and greenbelt area. This open concept home offers a beautiful luxury kitchen with granite countertops, tile backsplash, stainless steel appliances and a window seat in dining area. The master suite has a bay window, garden soaking tub, separate shower, dual sinks and spacious walk-in closet. Outside offers a full landscape front yard and a large backyard with an extended patio great for entertaining. With right offer, seller will leave washer and dryer with pedestals, refrigerator, and patio furniture.

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75126

ZipNIR 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
Crosby Elementary School Primary Regular 446 28 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Crosby Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 28
6
GreatSchools Rating

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
 

$242,010$295,790$268,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$992
Property Tax -$616
Property Insurance -$145
HOA -$29
Property Management Fees -$99
CASH FLOW
$59

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.

$268,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,009

INVESTMENT

$77,009

Down Payment
$67,225
Rehab Estimate
$5,750
Closing Costs
$4,034

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,225
Loan Amount $201,675
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8953$1,8954$1,9405$1,950
$1,950
RENT COMPS ANALYSIS
  • 101 Zion Lane Forney, TX 4
    • 3 beds 2 baths ∙ 2,037 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,037 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.95
    •  
  • 2227 Overton Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 2006
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 121 Trailwood Court Forney, TX 2
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2013
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 2235 Pecan Ridge Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2006
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 2237 Pecan Ridge Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2019
    property image
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jennifer Hutchins
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417630
Last Updated: 08/21/2020
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