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

1023 Comfort Drive Forney, TX 75126

4 Beds 3 Baths 2,460 sqft Built 2005

$250,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $101.63
  • 4 Days on Market
  • MLS # : 14469564
  • Updated Date : 11/14/2020 at 16:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,460 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Don't miss out on this fantastic 4 bedroom home in sought after Travis Ranch! The spacious living room has vaulted ceilings, low-maintenance laminate flooring, a fireplace and overlooks the expansive covered patio and ample yard. The master suite is on the first floor and boasts a garden tub, separate shower and large walk-in closet. The kitchen offers a large island, corian counters and breakfast bar. The secondary bedrooms are all upstairs and connected by an open game room or loft area. Take advantage of all the community amenities including a pool, a splash park, a spacious covered pavilion, an in-line hockey rink, sports fields and a playground area!

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: 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

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$922
Property Tax -$637
Property Insurance -$169
HOA -$0
Property Management Fees -$99
CASH FLOW
$62

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

$1,890

PROJECTED RENT

0.76%

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

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$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 55% 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

5.42

YEARS SAVED

$17,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,060

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8903$1,9504$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 1023 Comfort Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.77
    •  
  • 2141 Rains County Road Forney, TX 1
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2012
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 2011 Childress Drive Forney, TX 3
    • 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 1008 Camp Verde Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 2014 Sage Brush Drive Forney, TX 5
    • 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
PROPERTY LISTING DETAILS
Nick Mccoy
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469564
Last Updated: 11/14/2020
BESbswy