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1147 Citabria Street Forney, TX 75126

5 Beds 4 Baths 3,876 sqft Built 2018

$429,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $110.68
  • 5 Days on Market
  • MLS # : 14462570
  • Updated Date : 10/31/2020 at 08:34
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,876 sqft
  • Baths : 4 full
Listing Agent

United Real Estate

Listing Agent's Description

5 bedroom beautiful almost new custom D.R. Horton home. Grand vaulted ceilings, quartz countertops, two living areas and a media room wired for a projector and 9.2. Cat 6 throughout house and pre-wired for security cameras. Smart lock on front door. Honeywell wifi thermostats upstairs and down. This home is perfect for any family wanting a downstairs master and additional bedroom with a full bath. Master bath has split sinks, garden tub, separate shower with mudded shower pan and huge master closet. Ready for Christmas lights with plug on the eaves and switch in the garage. Gas cooking, fireplace and gas on covered back porch. Amazing home for family, working from home and eventually entertaining.

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: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262309

* 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
Rhea Elementary School Primary Regular 709 42 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Rhea Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 42
8
GreatSchools Rating

Warren Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 39
9
GreatSchools Rating

Forney High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 88
8
GreatSchools Rating
 

$386,100$471,900$429,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,583
Property Tax -$983
Property Insurance -$251
HOA -$21
Property Management Fees -$99
CASH FLOW
-$17

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.

$429,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$20,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,868

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,920
$2,920
RENT COMPS ANALYSIS
  • 1147 Citabria Street Forney, TX 2
    • 5 beds 3 baths ∙ 3,876 Sqft ∙ Built 2018 5 beds 3 baths ∙ 3,876 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.75
    •  
  • 239 Hound Hollow Road Forney, TX 1
    • 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Loretta Piercy
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462570
Last Updated: 10/31/2020
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