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1011 Comfort Drive Forney, TX 75126

4 Beds 3 Baths 2,879 sqft Built 2005

$250,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $86.84
  • 3 Days on Market
  • MLS # : 14481198
  • Updated Date : 12/05/2020 at 16:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,879 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Forney is taking off and here is your opportunity to get in now. This home is in immaculate condition, with fresh neutral paint, large open living and eat in kitchen, walking in pantry. Downstairs owners suite with jetted tub. Upstairs welcomes you with a nice open game room and 3 more spacious bedrooms. Relax on your covered patio as you enamor with your new home. 3D Walk Thru available Multiple offers, best and final due by Sunday 12-6-2020 at 5pm.

SEE MORE

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262024

* 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
Lewis Elementary School Primary Regular 472 27 7
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Lewis Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 27
7
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$922
Property Tax -$637
Property Insurance -$194
HOA -$30
Property Management Fees -$99
CASH FLOW
$338

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.

$250,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$45,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,217

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1253$2,2204$2,2505$2,375
$2,375
RENT COMPS ANALYSIS
  • 1011 Comfort Drive Forney, TX 3
    • 4 beds 4 baths ∙ 2,879 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,879 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.77
    •  
  • 1106 Mule Deer Road Forney, TX 1
    • 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2006
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 1007 Rumley Road Forney, TX 2
    • 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 2005
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.76
    •  
  • 1007 Concan Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2005
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 1209 Templin Avenue Forney, TX 5
    • 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,964 Sqft ∙ Built 2017
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.80
    •  
PROPERTY LISTING DETAILS
Aubrey Pearson
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481198
Last Updated: 12/05/2020
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