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1314 Luckenbach Drive Forney, TX 75126

3 Beds 2 Baths 1,936 sqft Built 2010

$263,990

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $136.36
  • 2 Days on Market
  • MLS # : 14527225
  • Updated Date : 03/06/2021 at 01:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,936 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

CORNER LOT in Travis Ranch. Across the street from Lewis Elementary. Cozy, well-maintained home with high ceiling throughout. Large windows welcome natural light. Tile floor in the wet area and hallways. Beautiful wood floor in the living room and the master closet. Carpet in all bedrooms. Open concept connects kitchen and living area. Add a couple of bar stools and island in Kitchen can turn into a breakfast area. Built-in desk is great for work from home or distance learning. Master bedroom in the back facing backyard provides extra privacy. Master bathroom has shower area, garden tub, and a beauty area between 2 sinks. Covered front porch and back patio. Parks, playgrounds, community pool and 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: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262024

* 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
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7
Brown Middle School Middle Unknown NA

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

Brown Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$237,591$290,389$263,990

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$917
Property Tax -$673
Property Insurance -$139
HOA -$30
Property Management Fees -$99
CASH FLOW
-$8

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.

$263,990

PROJECTED PRICE

$1,850

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.3%
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

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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,707

INVESTMENT

$75,707

Down Payment
$65,998
Rehab Estimate
$5,750
Closing Costs
$3,960

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$917

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,998
Loan Amount $197,993
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$9,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,849

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8504$1,9255$1,950
$1,950
RENT COMPS ANALYSIS
  • 1314 Luckenbach Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 1019 Rumley Road Forney, TX 1
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
  • 1022 Cottontail Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2007
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 1009 Kimbro Drive Forney, TX 4
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.96
    •  
  • 1005 Norias Drive Forney, TX 5
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2020
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
PROPERTY LISTING DETAILS
Beverly Lu
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527225
Last Updated: 03/06/2021
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