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113 Doe Meadow Lane Forney, TX 75126

4 Beds 2 Baths 2,056 sqft Built 2011

$283,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $137.65
  • 5 Days on Market
  • MLS # : 14511869
  • Updated Date : 02/03/2021 at 17:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,056 sqft
  • Baths : 2 full
Listing Agent

Elsie Halbert Real Estate, Llc

Listing Agent's Description

This beautiful home is move in ready! Walk up the driveway and notice the beautiful landscaping on this home. Walk through the front door and notice the wood floors and neutral gray walls. Open concept living room with WBFP and tons of room for furniture, move to kitchen that has tons of storage room, pantry, island and plenty of windows. Master bedroom is large and features a master suite bathroom with a walk in closet, his and hers sinks and more! 3 more bedrooms are great size with bigger than normal closets! The backyard had wood privacy fence and plenty of room for parties, toys and more! Minutes from shopping, restaurants and businesses!

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: Deerfield Heights

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Deerfield Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262010

* 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
 

$254,700$311,300$283,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$983
Property Tax -$648
Property Insurance -$146
HOA -$21
Property Management Fees -$99
CASH FLOW
-$47

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.

$283,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.6%
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

PROJECTED ANNUAL CASH FLOW

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

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$80,745

INVESTMENT

$80,745

Down Payment
$70,750
Rehab Estimate
$5,750
Closing Costs
$4,245

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$983

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,750
Loan Amount $212,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $0.93

    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
  • 113 Doe Meadow Lane Forney, TX 2
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 219 Long Prairie Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2008
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 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
Kelsey Davis
Elsie Halbert Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511869
Last Updated: 02/03/2021
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