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1014 Dancing Waters Forney, TX 75126

3 Beds 2 Baths 1,940 sqft Built 2006

$289,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $148.97
  • 1 Days on Market
  • MLS # : 14464128
  • Updated Date : 11/02/2020 at 18:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,940 sqft
  • Baths : 2 full
Listing Agent

Graves & Assoc. Real Estate

Listing Agent's Description

This house is extremely nice inside and out. Has real wood floors in the house. Patio has been extended and is covered. Shows extremely well, will not last long on the market.

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: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262309

* 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
Rhea Elementary School Primary Regular 709 42 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Rhea Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 42
8
GreatSchools Rating

Warren Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 39
9
GreatSchools Rating

Forney High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 88
8
GreatSchools Rating
 

$260,100$317,900$289,000

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 -$1,066
Property Tax -$662
Property Insurance -$139
HOA -$21
Property Management Fees -$99
CASH FLOW
-$218

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.

$289,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,235

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
  • $0.91

    LIST RENT PER SQFT
  • $1,814

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,765
1$1,7652$1,7703$1,8954$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1014 Dancing Waters Forney, TX 2
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.91
    •  
  • 305 Caladium Drive Forney, TX 1
    • 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2019
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.92
    •  
  • 126 Beacon Hill Lane Forney, TX 3
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.95
    •  
  • 1046 Dancing Waters Forney, TX 4
    • 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 301 Stanford Forney, TX 5
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2005
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Dale Graves
Graves & Assoc. Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464128
Last Updated: 11/02/2020
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