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1405 Lawnview Drive Forney, TX 75126

4 Beds 3 Baths 2,599 sqft Built 2021

$395,355

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $152.12
  • 3 Days on Market
  • MLS # : 14531874
  • Updated Date : 03/12/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,599 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

New David Weekley Home in Gateway Parks, Forney's BEST Master Planned Community. The Ellwood is a brand new plan to Gateway. The bedrooms are spaced apart for privacy with the kitchen placed in the heart of the home. When you walk In the front door you are drawn in to the home as the placement of the windows brings the outside in. Ask about our 1-2-10 Year Warranty and SAVE BIG with our Energy Saver Program!

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: Grandview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k426k

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

Neighborhood: Grandview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262514

* 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
Henderson Elementary School Primary Regular 536 29 7
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Henderson Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 29
7
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
 

$355,820$434,891$395,355

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,373
Property Tax -$906
Property Insurance -$177
HOA -$60
Property Management Fees -$99
CASH FLOW
-$296

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.

$395,355

PROJECTED PRICE

$2,320

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$106,769

INVESTMENT

$106,769

Down Payment
$98,839
Rehab Estimate
$2,000
Closing Costs
$5,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,373

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,839
Loan Amount $296,516
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,287

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,2004$2,3205$2,450
$2,450
RENT COMPS ANALYSIS
  • 1405 Lawnview Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,599 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.89
    •  
  • 1257 Meridian Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2017
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 3000 Guadalupe Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2015
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 3004 Guadalupe Drive Forney, TX 3
    • 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 2016
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 1212 Kensington Drive Forney, TX 5
    • 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2020
    property image
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531874
Last Updated: 03/12/2021
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