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12649 Forest Lawn Road Rhome, TX 76078

5 Beds 3 Baths 2,689 sqft Built 2013

$279,750

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $104.03
  • 1 Days on Market
  • MLS # : 14478090
  • Updated Date : 11/28/2020 at 23:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,689 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

This adorable home has an upstairs bonus-game room, two and a half baths, FIVE bedrooms, a beautifully landscaped front yard, plenty of backyard space, and get this...a whole home water filtration system! Everything from granite countertops and a guest bath downstairs, to first floor master and dual sinks in the master bathroom, make this home top of the list. This neighborhood is nestled near farm areas, and boasts proximity to shopping, schools, highways and more. Property backs up to an open field, separated by fence and trees.

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: Shale Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $92k336k

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

Neighborhood: Shale Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10122171

* 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
Prairie View Elementary School Primary Regular 452 35 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Prairie View Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 35
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$251,775$307,725$279,750

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 -$1,032
Property Tax -$508
Property Insurance -$183
HOA -$30
Property Management Fees -$99
CASH FLOW
-$122

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.

$279,750

PROJECTED PRICE

$1,730

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$79,884

INVESTMENT

$79,884

Down Payment
$69,938
Rehab Estimate
$5,750
Closing Costs
$4,196

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,032

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,938
Loan Amount $209,813
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,568

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
  • $0.64

    LIST RENT PER SQFT
  • $1,869

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,730
$1,730
RENT COMPS ANALYSIS
  • 12649 Forest Lawn Road Rhome, TX 3
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.64
    •  
  • 11932 Shine Avenue Rhome, TX 1
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.66
    •  
  • 12141 Shine Avenue Rhome, TX 2
    • 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,339 Sqft ∙ Built 2006
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
PROPERTY LISTING DETAILS
Richard Pickrell
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478090
Last Updated: 11/28/2020
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