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1131 Singletree Drive Forney, TX 75126

3 Beds 2 Baths 1,612 sqft Built 2002

$215,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $133.37
  • 1 Days on Market
  • MLS # : 14464158
  • Updated Date : 11/02/2020 at 21:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

Hawk Realty

Listing Agent's Description

Must see 3 bedroom home with a spectacular backyard that is perfect family gatherings, pets and outdoor fun. Backyard is nicely shaded. Store your lawn equipment in the shed outback. This home in located in a very WELL-PLANNED subdivision-Windmill Farms which features many amenities. Throughout the home, luxury vinyl flooring and wood blinds. Covered patio, large backyard, shed. Open concept and living area and gas starter fireplace. Idea home for holidays! Forney is a great location-close to shopping, restaurants, highways and schools.

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: Windmill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Windmill Farms

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
Blackburn Elementary School Primary Regular 619 38 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Blackburn Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 38
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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$793
Property Tax -$493
Property Insurance -$120
HOA -$41
Property Management Fees -$99
CASH FLOW
-$7

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.

$215,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$10,311

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5403$1,5504$1,5505$1,695
$1,695
RENT COMPS ANALYSIS
  • 1131 Singletree Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.96
    •  
  • 1000 Hampton Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 1516 Warrington Way Forney, TX 3
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2002
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 1014 Hampton Drive Forney, TX 4
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2003
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 1219 Warrington Way Forney, TX 5
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2002
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
PROPERTY LISTING DETAILS
Demia Dupuch
Hawk Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464158
Last Updated: 11/02/2020
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