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

1011 Warrington Way Forney, TX 75126

4 Beds 2 Baths 2,622 sqft Built 2003

$279,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $106.75
  • 3 Days on Market
  • MLS # : 14480948
  • Updated Date : 12/04/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,622 sqft
  • Baths : 2 full
Listing Agent

Creekview Realty

Listing Agent's Description

BRING YOUR BUYERS, A MUST SEE! A beautiful, oversized corner lot and right in front of the community pond! The original owner has taken great care of this beautiful home with a new roof and stained board on board fence in 2019. This home features a huge game room, living room & master bedroom with custom built-in closet. This home also features a butler's pantry, big secondary bedrooms, and a 250 sqft screened in extended patio to enjoy the beautiful big back yard. You can easily add a pool with plenty of room still left to play. Laminate hardwood looking floors through the dining room, living room, and master bedroom. A 12 x 8 shed with ramp, Ring doorbell, and exterior cameras also convey!

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: Windmill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Windmill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262010

* 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
Blackburn Elementary School Primary Regular 619 38 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Blackburn Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 38
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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,033
Property Tax -$641
Property Insurance -$179
HOA -$41
Property Management Fees -$99
CASH FLOW
-$223

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.

$279,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,790

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,7705$2,025
$2,025
RENT COMPS ANALYSIS
  • 1011 Warrington Way Forney, TX 4
    • 4 beds 2 baths ∙ 2,622 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,622 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.68
    •  
  • 1012 Hanover Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 1102 Halifax Lane Forney, TX 2
    • 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 1001 Ashland Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2003
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.65
    •  
  • 3014 Flowering Springs Drive Forney, TX 5
    • 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2016
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.74
    •  
PROPERTY LISTING DETAILS
John Prell
Creekview Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480948
Last Updated: 12/04/2020
BESbswy