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12272 Glenwood Trail Forney, TX 75126

3 Beds 2 Baths 1,611 sqft Built 1980

$385,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $238.98
  • 4 Days on Market
  • MLS # : 14473013
  • Updated Date : 11/19/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,611 sqft
  • Baths : 2 full
Listing Agent

Premier Legacy Real Estate Llc

Listing Agent's Description

Updated Ranch Home with Home and Business Opportunity- One minute to Highway! Rare opportunity to have it all! Nice Home with Hardwoods, Granite, Stainless, Newer Stone Replacing Original Brick. Well to water St. Augustine yard and Coop water for the home. Foam Insulated Shops and Home for Energy Efficiency. First Shop is 40X50 with an additional room of 22X19. Second Shop is 29X25. Entertain Your Guest in the Pool and Outdoor Grilling Area. No HOA! Tons of Parking! This won't last long!

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: Rolling Acres

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $122k278k

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

Neighborhood: Rolling Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262111

* 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
Criswell Elementary School Primary Regular 562 32 8
Criswell Elementary School Middle Regular 562 32 8
North Forney High School High Regular 1,274 83 7

Criswell Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

Criswell Elementary School

  • Education Level: Middle
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

North Forney High School

  • Education Level: High
  • # of students: 1,274
  • # of teachers: 83
7
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,420
Property Tax -$882
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$1,012

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.

$385,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5103$1,5954$1,5995$1,750
$1,750
RENT COMPS ANALYSIS
  • 12272 Glenwood Trail Forney, TX 2
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.94
    •  
  • 410 Redbud Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1982
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 509 Laurel Lane Forney, TX 3
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1985
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 505 Rosewood Lane Forney, TX 4
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1986
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.91
    •  
  • 618 Azalea Drive Forney, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1992
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kim Bigley
Premier Legacy Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473013
Last Updated: 11/19/2020
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