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1307 Bideford Way Forney, TX 75126

5 Beds 4 Baths 2,970 sqft Built 2016

$410,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $138.05
  • 2 Days on Market
  • MLS # : 14505385
  • Updated Date : 01/23/2021 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,970 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Sought after large 1 story plan by Highland Homes on an oversized corner lot perfect size for adding a pool! Wide plank wood floors in the entry, study, kitchen, master suite, living & dining areas! $$ Plantation Shutters throughout, floor to ceiling stone fireplace, wood clad 3 car tandem garage, 4 bedrooms with study or can be a 5 bedroom, 3 full baths & 1 half bath, media room wired for sound & projector, home wired for video security, open kitchen with 5 burner gas cooktop & double ovens, the open concept allows the formal dining to also be utilized as an extended living space, stone landscaped beds in front, wood clad garage doors, 8ft knotty alder front door! Community features club house, pool & more!

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: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k341k

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

Neighborhood: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262677

* 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
Crosby Elementary School Primary Regular 446 28 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Crosby Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 28
6
GreatSchools Rating

Brown Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 41
7
GreatSchools Rating

North Forney High School

  • Education Level: High
  • # of students: 1,274
  • # of teachers: 83
7
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,424
Property Tax -$1,062
Property Insurance -$199
HOA -$41
Property Management Fees -$99
CASH FLOW
-$295

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$410,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,836

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5304$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 1307 Bideford Way Forney, TX 3
    • 5 beds 4 baths ∙ 2,970 Sqft ∙ Built 2016 5 beds 4 baths ∙ 2,970 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.85
    •  
  • 1543 Tavistock Road Forney, TX 1
    • 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 2035 Avondown Road Forney, TX 2
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 1005 Cadbury Lane Forney, TX 4
    • 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 1213 Hundgate Way Forney, TX 5
    • 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 2017
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jory Walker
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505385
Last Updated: 01/23/2021
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