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112 Mesa Verde Court Forney, TX 75126

4 Beds 2 Baths 1,866 sqft Built 2017

$259,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $139.28
  • 2 Days on Market
  • MLS # : 14485774
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,866 sqft
  • Baths : 2 full
Listing Agent

United Real Estate Family

Listing Agent's Description

Come see this house perfect for growing families with 4 spacious bedrooms and open concept kitchen-dining-livingroom. Do you like a little space between you and your neighbors? You must come see this .24 acre house on a cul-de-sac street. Take a look at the 3D Matterport Scan!

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

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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$903
Property Tax -$596
Property Insurance -$135
HOA -$29
Property Management Fees -$99
CASH FLOW
$39

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.

$259,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.69%

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$800k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$13,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,773

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8954$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 112 Mesa Verde Court Forney, TX 1
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 2113 Thistle Lane Forney, TX 2
    • 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2007
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 208 Archer Way Forney, TX 3
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 2013
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 121 Trailwood Court Forney, TX 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2013
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 104 Rambling Way Forney, TX 5
    • 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 2007
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
PROPERTY LISTING DETAILS
Alex Cho
United Real Estate Family
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485774
Last Updated: 01/16/2021
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