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1034 Eagle Nest Avenue Forney, TX 75126

5 Beds 3 Baths 2,924 sqft Built 2005

INVESTimate

$330,000

List Price

$2,320

$2,088 - $2,552

Rent Est.

$346,863  ( +5.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $112.86
  • 3 Days on Market
  • MLS # : 14419749
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,924 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Wonderful drive up appeal in sought after Fox Hollow subdivision. This home offers plenty of space with 5 bedrooms and 3 bathrooms. Stretch out in the large media room and office for that stay at home work or school. The backyard is big enough for outdoor entertainment, a pool addition or playground equipment. Schedule your appointment today either in person or virtually.

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
 

$297,000$363,000$330,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,218
Property Tax -$756
Property Insurance -$196
HOA -$21
Property Management Fees -$99
CASH FLOW
$30

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.

$330,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.11%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$19,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,500

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3203$2,4004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 1034 Eagle Nest Avenue Forney, TX 2
    • 5 beds 3 baths ∙ 2,924 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,924 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.79
    •  
  • 108 Highcreek Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 109 Bugle Call Road Forney, TX 3
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 2433 Heaton Street Forney, TX 4
    • 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2019
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 2105 Dorsey Drive Forney, TX 5
    • 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2019
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
PROPERTY LISTING DETAILS
Stacey Goodman
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419749
Last Updated: 08/25/2020
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