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1292 Caprock Drive Forney, TX 75126

4 Beds 3 Baths 2,253 sqft Built 2020

INVESTimate

$293,973

List Price

$2,150

$1,935 - $2,365

Rent Est.

$310,906  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $130.48
  • 10 Days on Market
  • MLS # : 14415204
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,253 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

This charming NEW DAVID WEEKLEY single story home has four bedrooms, 3 baths and a study. You'll enjoy a large kitchen with gourmet island, and plenty of room in the cabinets. Upgraded flooring, tankless water heater, and a covered porch for outdoor living. Located in beautiful Gateway Park sin Forney. This master planned community offers trails, parks, pools, an amenity center, and fitness center. Zoned for ForneyISD schools 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
 

$264,576$323,370$293,973

PURCHASE PRICE

$1,935$2,365$2,150

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,085
Property Tax -$674
Property Insurance -$157
HOA -$60
Property Management Fees -$99
CASH FLOW
$75

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.

$293,973

PROJECTED PRICE

$2,150

PROJECTED RENT

0.73%

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$79,903

INVESTMENT

$79,903

Down Payment
$73,493
Rehab Estimate
$2,000
Closing Costs
$4,410

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,493
Loan Amount $220,480
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,118

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,649
1$1,6492$1,8453$2,0994$2,1505$2,395
$2,395
RENT COMPS ANALYSIS
  • 1292 Caprock Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.95
    •  
  • 1003 Bradford Lane Forney, TX 1
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2003
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.86
    •  
  • 3016 Rocking Hills Trail Forney, TX 2
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2013
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.95
    •  
  • 1545 Kessler Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2018
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.98
    •  
  • 1281 Carlsbad Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2017
    property image
    LEASED 02/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.97
    •  
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 #: 14415204
Last Updated: 08/19/2020
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