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

107 Zion Lane Forney, TX 75126

3 Beds 2 Baths 1,600 sqft Built 2015

$260,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $162.50
  • 3 Days on Market
  • MLS # : 14469770
  • Updated Date : 11/20/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates Of Arlington

Listing Agent's Description

Why wait to build? This one is ready for you TODAY! Step inside this 1 story beautiful home build in 2015. It offers 3 bedrooms, 2 baths, wood floors, granite countertop, backsplash, fireplace, an oversized shower in master, back patio and storage building. The flexible floor plan features a spacious kitchen and an open concept with split bedrooms. Walking distance to pool, pond and elementary school. Great access to freeways and shopping. Hurry! It won't last!

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

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$120
HOA -$25
Property Management Fees -$99
CASH FLOW
-$209

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.

$260,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.61%

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) 8.00%
Vacancy 6.93%
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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,596

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5903$1,6504$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 107 Zion Lane Forney, TX 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.99
    •  
  • 118 Robin Lane Forney, TX 1
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.98
    •  
  • 154 Wandering Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2003
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 144 Landsdale Forney, TX 4
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.00
    •  
  • 2105 Cardinal Drive Forney, TX 5
    • 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2006
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
PROPERTY LISTING DETAILS
Marta Alvarez
Re/max Associates Of Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469770
Last Updated: 11/20/2020
BESbswy