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1235 Ophelia Road Forney, TX 75126

4 Beds 2 Baths 1,775 sqft Built 2016

$244,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $137.97
  • 3 Days on Market
  • MLS # : 14500390
  • Updated Date : 01/16/2021 at 19:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,775 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Location, Location, Location! Check out this beautiful 4 bed 2 bath spacious home centrally located in Forney with access to several major highways. This single story home has a nice floor plan, and features a private master with large in suite bath and walk in closet. There's a large backyard; great for outdoor grilling. The home is in great condition and offers the space and flexible to accommodate any growing family. Check out this home before it's gone!

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
Johnson Elementary School Primary Regular 513 31 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Johnson Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 31
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
 

$220,410$269,390$244,900

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 -$851
Property Tax -$561
Property Insurance -$130
HOA -$33
Property Management Fees -$99
CASH FLOW
$126

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.

$244,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.73%

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$12k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$20,023

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
  • $1.01

    LIST RENT PER SQFT
  • $1,815

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7253$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1235 Ophelia Road Forney, TX 4
    • 4 beds 2 baths ∙ 1,775 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,775 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 2110 Willard Way Forney, TX 1
    • 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 2017
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.04
    •  
  • 1450 Arabella Avenue Forney, TX 2
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 2016
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.05
    •  
  • 4006 Autumnwood Lane Heartland, TX 3
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2009
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 1415 Arabella Avenue Forney, TX 5
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 2016
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
PROPERTY LISTING DETAILS
Clifton Johnson
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500390
Last Updated: 01/16/2021
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