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1083 Canterbury Lane Forney, TX 75126

4 Beds 4 Baths 3,430 sqft Built 2020

INVESTimate

$399,000

List Price

$2,530

$2,280 - $2,780

Rent Est.

$414,122  ( +3.79%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $116.33
  • 8 Days on Market
  • MLS # : 14416352
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,430 sqft
  • Baths : 4 full
Listing Agent

Classic Property Management

Listing Agent's Description

Beautiful NEW Bloomfield Home Ready November 2020! This incredible two story home features 4 bed, 4 bath; Laminate Floors throughout first floor; Upgraded Deluxe Kitchen with Open Design plan, SS appliances, walk-in pantry, granite counters and island; Bedroom 1 with Deluxe Bath including dual sinks, garden tub and separate shower; Granite in ALL baths; Study; Dining Room; Media Room; Game Room; Window coverings throughout; Window seats downstairs; Large covered front porch and very large rear covered patio; Rear patio overlooks Greenbelt, Nice lot; 2.5 car garage; FULLY LANDSCAPED. Call us today!

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
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
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,277$2,783$2,530

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,472
Property Tax -$983
Property Insurance -$225
HOA -$47
Property Management Fees -$99
CASH FLOW
-$296

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$399,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.79%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,735

INVESTMENT

$107,735

Down Payment
$99,750
Rehab Estimate
$2,000
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,538

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,4003$2,5304$2,790
$2,790
RENT COMPS ANALYSIS
  • 1083 Canterbury Lane Forney, TX 3
    • 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,430 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.74
    •  
  • 2019 Aster Trail Forney, TX 1
    • 5 beds 3 baths ∙ 3,100 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,100 Sqft ∙ Built 2004
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.63
    •  
  • 5050 Royal Springs Drive Forney, TX 2
    • 4 beds 4 baths ∙ 3,107 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,107 Sqft ∙ Built 2016
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.77
    •  
  • 1009 Knoxbridge Drive Forney, TX 4
    • 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.82
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416352
Last Updated: 08/20/2020
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