Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

125 Conchas Drive Forney, TX 75126

3 Beds 2 Baths 1,886 sqft Built 2020

$310,530

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $164.65
  • 5 Days on Market
  • MLS # : 14462902
  • Updated Date : 10/30/2020 at 18:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,886 sqft
  • Baths : 2 full
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14462902 - Built by Impression Homes - December completion! ~ This beautiful Alderbury plan is a traditional brick and stone home with 3 bedrooms, 2 full baths, study, and 2 car garage. The open floor plan has a California kitchen island, separate gas cooktop and oven, stainless appliances, white cabinets, subway tile backsplash, granite countertops, dark brown wood-look tile throughout the main living areas and study, a wood burning fireplace with a gas starter and an extended patio. In addition, this home is equipped with the Smarter Living package, built-in pest control system, full sod and sprinkler system, blinds, and so much more!

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
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
 

$279,477$341,583$310,530

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,146
Property Tax -$712
Property Insurance -$136
HOA -$21
Property Management Fees -$99
CASH FLOW
-$383

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$310,530

PROJECTED PRICE

$1,730

PROJECTED RENT

0.56%

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) 3.00%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,290

INVESTMENT

$84,290

Down Payment
$77,633
Rehab Estimate
$2,000
Closing Costs
$4,658

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,633
Loan Amount $232,898
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7653$1,8954$2,000
$2,000
RENT COMPS ANALYSIS
  • 125 Conchas Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.92
    •  
  • 305 Caladium Drive Forney, TX 2
    • 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2019
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.92
    •  
  • 126 Beacon Hill Lane Forney, TX 3
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.95
    •  
  • 1046 Dancing Waters Forney, TX 4
    • 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Imp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462902
Last Updated: 10/30/2020
BESbswy