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128 Wenham Way Forney, TX 75126

4 Beds 3 Baths 2,662 sqft Built 2020

$345,342

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $129.73
  • 3 Days on Market
  • MLS # : 14463873
  • Updated Date : 11/02/2020 at 12:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,662 sqft
  • Baths : 3 full
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14463873 - Built by Impression Homes - November completion! ~ This beautiful stone and brick 1-story home has 4 bedrooms, 3 baths, study and a 2-car garage. The open floor plan has a California kitchen, stainless appliances, gas cooktop, gray subway tile backsplash, huge pantry plus another huge storage area, fireplace, wood-look tile throughout the main living areas and dark cabinets. In addition, it is equipped with a built-in pest control system, Living Smarter package, blinds, full sod and sprinkler system and so much more. Come check out the model to see a completed version.

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
 

$310,808$379,876$345,342

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,274
Property Tax -$791
Property Insurance -$181
HOA -$21
Property Management Fees -$99
CASH FLOW
$24

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.

$345,342

PROJECTED PRICE

$2,390

PROJECTED RENT

0.69%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$93,516

INVESTMENT

$93,516

Down Payment
$86,336
Rehab Estimate
$2,000
Closing Costs
$5,180

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,274

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,336
Loan Amount $259,007
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$19,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,382

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2753$2,3004$2,3905$2,500
$2,500
RENT COMPS ANALYSIS
  • 128 Wenham Way Forney, TX 4
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.90
    •  
  • 1150 Leafy Glade Road Forney, TX 1
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2006
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 1029 Dancing Waters Forney, TX 2
    • 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.96
    •  
  • 2714 Pease Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2019
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 2433 Heaton Street Forney, TX 5
    • 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,780 Sqft ∙ Built 2019
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
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 #: 14463873
Last Updated: 11/02/2020
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