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1344 Lone Hill Lane Forney, TX 75126

4 Beds 3 Baths 3,254 sqft Built 2020

$372,506

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $114.48
  • 5 Days on Market
  • MLS # : 14462958
  • Updated Date : 10/30/2020 at 18:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,254 sqft
  • Baths : 3 full
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14462958 - Built by Impression Homes - January completion! ~ This beautiful 2-story brick and stone Kingsgate plan has 4 bedrooms (2 down & 2 up), 3 full baths, study, game room, and 2 car garage. This open floor plan has a California kitchen island, separate gas cooktop and oven, stainless appliances, dark cabinets, white subway tile backsplash, granite countertops, gray wood-look tile throughout the main living areas and study, a gas log fireplace, and covered patio. In addition, this home is equipped with the Smarter Living package, built-in pest control system, full sod and sprinkler system, blinds, and so much more!!!

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

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
 

$335,255$409,757$372,506

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,374
Property Tax -$854
Property Insurance -$215
HOA -$21
Property Management Fees -$99
CASH FLOW
$237

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.

$372,506

PROJECTED PRICE

$2,800

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$100,714

INVESTMENT

$100,714

Down Payment
$93,127
Rehab Estimate
$2,000
Closing Costs
$5,588

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,374

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,127
Loan Amount $279,380
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$44,940

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,855

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,7253$2,8004$2,9505$3,025
$3,025
RENT COMPS ANALYSIS
  • 1344 Lone Hill Lane Forney, TX 3
    • 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,254 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.86
    •  
  • 109 Bugle Call Road Forney, TX 1
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 1024 Lufkin Lane Forney, TX 2
    • 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.82
    •  
  • 10271 Linda Circle Forney, TX 4
    • 5 beds 4 baths ∙ 3,189 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,189 Sqft ∙ Built 2001
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.93
    •  
  • 1026 Eagle Nest Avenue Forney, TX 5
    • 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2005
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,025
    • $0.96
    •  
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 #: 14462958
Last Updated: 10/30/2020
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