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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Windmill Farms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,589
LOAN DETAILS
$889
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $60,225 |
| Loan Amount | $180,675 |
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
-
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
Berkshire Hathawayhs Penfed Tx
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14478153
Last Updated: 11/28/2020
