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1260 Caprock Drive Forney, TX 75126

4 Beds 3 Baths 2,853 sqft Built 2020

INVESTimate

$327,638

List Price

$1,970

$1,773 - $2,167

Rent Est.

$346,510  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $114.84
  • 10 Days on Market
  • MLS # : 14415217
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,853 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

This NEW DAVID WEEKLEY HOME is an open concept two story home with upgraded flooring in the main areas. It boasts dramtaic windows, gourmet kitchen, under cabinet lighting, backpack space, fireplace, and covered porch. Gateway Parks offers trails, parks, pools, an amenity and fitness center. Zoned for ForneyISD which is ranked one of the best in Texas. Ask about our 1-2-10 Year Warranty and SAVE BIG with our Energy Saver Program!

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

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
Henderson Elementary School Primary Regular 536 29 7
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Henderson Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 29
7
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
 

$294,874$360,402$327,638

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,209
Property Tax -$751
Property Insurance -$192
HOA -$60
Property Management Fees -$99
CASH FLOW
-$341

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.

$327,638

PROJECTED PRICE

$1,970

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,824

INVESTMENT

$88,824

Down Payment
$81,910
Rehab Estimate
$2,000
Closing Costs
$4,915

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,209

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,910
Loan Amount $245,729
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,961

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,6954$1,9705$2,025
$2,025
RENT COMPS ANALYSIS
  • 1260 Caprock Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,853 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.69
    •  
  • 1203 Hampton Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,529 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,529 Sqft ∙ Built 2002
    LEASED 03/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 1012 Hanover Drive Forney, TX 2
    • 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 1102 Halifax Lane Forney, TX 3
    • 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 3014 Flowering Springs Drive Forney, TX 5
    • 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2016
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415217
Last Updated: 08/19/2020
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