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1019 Callahan Drive Forney, TX 75126

3 Beds 2 Baths 1,743 sqft Built 2018

$255,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $146.30
  • 4 Days on Market
  • MLS # : 14530869
  • Updated Date : 03/13/2021 at 17:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,743 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

**multiple offers received. Highest & Best by Sunday March 14th at 6pm**Book your showing today for this meticulously maintained 2018 Pulte Home! This beautiful home sits on a corner lot and is bright and spacious. Open concept living with granite countertops in the kitchen looking into the dining and living room. The large front office can be used for flex space! Master bedroom and 2 other large bedrooms with lots of storage! This is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$886
Property Tax -$584
Property Insurance -$128
HOA -$25
Property Management Fees -$99
CASH FLOW
$68

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.

$255,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.70%

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

PROJECTED ANNUAL CASH FLOW

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

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,608

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,7903$1,7954$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 1019 Callahan Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.03
    •  
  • 1004 Shackelford Lane Forney, TX 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 2005
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.04
    •  
  • 1219 Mount Olive Lane Forney, TX 3
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2017
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 2002 Sage Brush Drive Forney, TX 4
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2014
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 2143 Erika Lane Forney, TX 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2020
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
PROPERTY LISTING DETAILS
Rebecca Bergstedt
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530869
Last Updated: 03/13/2021
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