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1237 Little Gull Drive Forney, TX 75126

4 Beds 4 Baths 3,324 sqft Built 2013

$399,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $120.04
  • 2 Days on Market
  • MLS # : 14501146
  • Updated Date : 01/16/2021 at 07:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,324 sqft
  • Baths : 4 full
Listing Agent

Exp Realty

Listing Agent's Description

THIS HOME HAS IT ALL...BEAUTIFUL AND SPACIOUS GRAYHAWK 4 BEDROOM HOME INCLUDES AN OFFICE AND MEDIA ROOM DOWNSTAIRS, GAME ROOM UPSTAIRS, SPACIOUS YARD, COVERED PATIO, AND FLOOR TO CEILING STONE FIRE PLACE. The perfect place to live! You will love all the stunning finish touches and amenities.

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: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k348k

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

Neighborhood: Grayhawk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262747

* 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
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$1,386
Property Tax -$914
Property Insurance -$219
HOA -$40
Property Management Fees -$99
CASH FLOW
$102

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.

$399,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$23,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,759

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,725
1$2,7252$2,7603$2,8004$2,8255$2,995
$2,995
RENT COMPS ANALYSIS
  • 1237 Little Gull Drive Forney, TX 2
    • 4 beds 4 baths ∙ 3,324 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,324 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.83
    •  
  • 1024 Lufkin Lane Forney, TX 1
    • 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.82
    •  
  • 1232 Glendon Drive Forney, TX 3
    • 4 beds 4 baths ∙ 3,365 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,365 Sqft ∙ Built 2019
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.83
    •  
  • 1136 Glendon Drive Forney, TX 4
    • 4 beds 3 baths ∙ 3,518 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,518 Sqft ∙ Built 2011
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $0.80
    •  
  • 1104 Glendon Drive Forney, TX 5
    • 5 beds 4 baths ∙ 3,454 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,454 Sqft ∙ Built 2011
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.87
    •  
PROPERTY LISTING DETAILS
Donna Thompson
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501146
Last Updated: 01/16/2021
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