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1408 Buckingham Drive Forney, TX 75126

3 Beds 2 Baths 2,003 sqft Built 2002

$240,900

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $120.27
  • 2 Days on Market
  • MLS # : 14478153
  • Updated Date : 11/28/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,003 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

WELL-MAINTAINED 3 BEDROOM, 2 BATHROOM BRICK HOME IN THE HEART OF FORNEY! You will feel right at home in this open concept floor plan featuring tile and carpet flooring and large windows that bring in tons of natural light. The chef in your family will love the gourmet kitchen featuring plenty of counter space and a breakfast bar. Host in the impressive family room showcasing a cozy brick fireplace or in the spacious game room. Nothing compares to the luxurious primary suite that boasts a private bathroom and a large walk-in closet. Great location near Blackburn Elementary and Manassas Playground! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: 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
 

$216,810$264,990$240,900

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$889
Property Tax -$552
Property Insurance -$143
HOA -$41
Property Management Fees -$99
CASH FLOW
$106

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.

$240,900

PROJECTED PRICE

$1,830

PROJECTED RENT

0.76%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,589

INVESTMENT

$69,589

Down Payment
$60,225
Rehab Estimate
$5,750
Closing Costs
$3,614

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$889

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,225
Loan Amount $180,675
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7503$1,7504$1,8305$1,900
$1,900
RENT COMPS ANALYSIS
  • 1408 Buckingham Drive Forney, TX 4
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.91
    •  
  • 1036 Hampton Drive Forney, TX 1
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2002
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 1003 Shenandoah Way Forney, TX 2
    • 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2004
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 4665 Elderberry Street Forney, TX 3
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2016
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 9425 Smoke Tree Drive Forney, TX 5
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 2018
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478153
Last Updated: 11/28/2020
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