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1015 Swindon Drive Forney, TX 75126

4 Beds 3 Baths 2,545 sqft Built 2021

$433,900

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $170.49
  • 7 Days on Market
  • MLS # : 14537961
  • Updated Date : 03/22/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,545 sqft
  • Baths : 3 full
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Extended entry with 13-foot ceiling leads to open kitchen, dining area and family room. Kitchen offers generous counter space, corner walk-in pantry and inviting island with built-in seating space. Dining area flows into family room with a wood mantel fireplace and a wall of windows. Game room with French doors just across from kitchen. Primary suite includes double-door entry to primary bath with dual vanities, garden tub, separate glass-enclosed shower and two large walk-in closets. Secondary bedrooms feature walk-in closets. Covered backyard patio. Mud room off two-car garage.

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

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
 

$390,510$477,290$433,900

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,507
Property Tax -$994
Property Insurance -$174
HOA -$47
Property Management Fees -$99
CASH FLOW
-$442

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$433,900

PROJECTED PRICE

$2,380

PROJECTED RENT

0.55%

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) 3.00%
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-$10k-$8.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,984

INVESTMENT

$116,984

Down Payment
$108,475
Rehab Estimate
$2,000
Closing Costs
$6,509

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,507

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $108,475
Loan Amount $325,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,367

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3803$2,5004$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 1015 Swindon Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.94
    •  
  • 1016 Edgefield Lane Forney, TX 1
    • 4 beds 6 baths ∙ 2,401 Sqft ∙ Built 2014 4 beds 6 baths ∙ 2,401 Sqft ∙ Built 2014
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
  • 1525 Tavistock Road Forney, TX 3
    • 3 beds 4 baths ∙ 2,641 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,641 Sqft ∙ Built 2017
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 2014 Rosebury Lane Forney, TX 4
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 1005 Finsbury Park Forney, TX 5
    • 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537961
Last Updated: 03/22/2021
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