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1308 Buckingham Drive Forney, TX 75126

4 Beds 2 Baths 2,606 sqft Built 2003

$259,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $99.73
  • 7 Days on Market
  • MLS # : 14466820
  • Updated Date : 11/09/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,606 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Beautiful 4 bed room 2 bath family home Great for entertaining open floor plan open island kitchen Huge back yard Must see to appreciate Wont last long MOVE-IN READY, with Ceiling fans throughout, new carpet, renovated guest bathroom. Walkin closet Energy Savings Windows installed throughout the house, Energy efficient plantation shutters on every window, not only will ensure energy bill's low but it gives the house an elegant look, a value of $8K brick fireplace and built-in shelving. Laundry Room has shelving storage. Flex room can be used as a study or dining room! great appeal, covered back patio, and storage building. parking space fits up to 6 cars.

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

Neighborhood: Windmill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Windmill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262010

* 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
Blackburn Elementary School Primary Regular 619 38 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Blackburn Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 38
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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$178
HOA -$41
Property Management Fees -$99
CASH FLOW
-$112

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.

$259,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.0%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,7605$2,025
$2,025
RENT COMPS ANALYSIS
  • 1308 Buckingham Drive Forney, TX 4
    • 4 beds 2 baths ∙ 2,606 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,606 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.68
    •  
  • 1012 Hanover Drive Forney, TX 1
    • 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 2
    • 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
    •  
  • 1001 Ashland Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 2003
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.65
    •  
  • 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
Martina Granados
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466820
Last Updated: 11/09/2020
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