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

1024 Edgefield Lane Forney, TX 75126

3 Beds 2 Baths 2,445 sqft Built 2015

$324,500

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $132.72
  • 4 Days on Market
  • MLS # : 14513255
  • Updated Date : 02/04/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,445 sqft
  • Baths : 2 full
Listing Agent

J. Williams Real Estate Srvcs

Listing Agent's Description

It is hard to believe but sometimes you can get better than new! This home is in great condition and has features you can't get or afford from a builder. Neutral colors, 8 foot solid core doors and warm wood floors welcome you home! Spacious living area has wood burning stone fireplace! Kitchen is fit for a chef with stainless steel appliances, an abundance of cabinets and double oven! Master suite is spacious, well laid out and has a bay window extension. Master bathroom is spa like with huge shower and large soaking tub! Home has large secondary rooms and office and an awesome media room. Utility room has built in cabinets and room for a fridge. Back yard has covered patio and brick fence! Welcome home!

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: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k341k

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

Neighborhood: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262677

* 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
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7
Brown Middle School Middle Unknown NA

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

Brown Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$292,050$356,950$324,500

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,127
Property Tax -$756
Property Insurance -$168
HOA -$47
Property Management Fees -$99
CASH FLOW
-$57

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.

$324,500

PROJECTED PRICE

$2,140

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,743

INVESTMENT

$91,743

Down Payment
$81,125
Rehab Estimate
$5,750
Closing Costs
$4,868

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,127

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,125
Loan Amount $243,375
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,164

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9003$2,1404$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 1024 Edgefield Lane Forney, TX 3
    • 3 beds 2 baths ∙ 2,445 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,445 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.88
    •  
  • 2042 Brook Meadow Drive Forney, TX 1
    • 3 beds 3 baths ∙ 2,338 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,338 Sqft ∙ Built 2006
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.80
    •  
  • 2103 Northridge Drive Forney, TX 2
    • 4 beds 2 baths ∙ 2,252 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,252 Sqft ∙ Built 2004
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 1525 Tavistock Road Forney, TX 4
    • 3 beds 4 baths ∙ 2,641 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,641 Sqft ∙ Built 2017
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 1005 Finsbury Park Forney, TX 5
    • 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jonathan Finkenbiner
J. Williams Real Estate Srvcs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513255
Last Updated: 02/04/2021
BESbswy