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1340 Lone Hill Lane Forney, TX 75126

4 Beds 3 Baths 2,639 sqft Built 2020

INVESTimate

$329,107

List Price

$2,510

$2,260 - $2,760

Rent Est.

$348,064  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $124.71
  • 9 Days on Market
  • MLS # : 14415487
  • Updated Date : 08/18/2020 at 10:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,639 sqft
  • Baths : 3 full
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14415487 - Built by Impression Homes - November completion! ~ This large 1-story traditional brick home includes 4 bedrooms, 3 full baths, a study, and a 2 car garage. This home has an open floor plan, white subway tile back splash in the kitchen, stainless steel appliances, Beech stained cabinets, granite countertops in the kitchen, and gray wood look tile throughout the main living areas of the home. In addition, it comes with blinds, a built-in pest control system, fence, full sprinkler system, a Living Smarter package and so much 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

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
 

$296,196$362,018$329,107

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,214
Property Tax -$754
Property Insurance -$180
HOA -$21
Property Management Fees -$99
CASH FLOW
$242

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.

$329,107

PROJECTED PRICE

$2,510

PROJECTED RENT

0.76%

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$89,213

INVESTMENT

$89,213

Down Payment
$82,277
Rehab Estimate
$2,000
Closing Costs
$4,937

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,277
Loan Amount $246,830
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$44,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,467

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2754$2,3005$2,510
$2,510
RENT COMPS ANALYSIS
  • 1340 Lone Hill Lane Forney, TX 5
    • 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.95
    •  
  • 2434 Anton Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 1150 Leafy Glade Road Forney, TX 2
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2006
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 1029 Dancing Waters Forney, TX 3
    • 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.96
    •  
  • 309 Westlake Forney, TX 4
    • 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 2007
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
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 #: 14415487
Last Updated: 08/18/2020
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