Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

145 Wandering Drive Forney, TX 75126

4 Beds 3 Baths 2,703 sqft Built 2003

INVESTimate

$259,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$277,803  ( +7.26%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $95.82
  • 8 Days on Market
  • MLS # : 14412726
  • Updated Date : 08/20/2020 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,703 sqft
  • Baths : 2 full , 1 half
Listing Agent

Malone And Associates Re

Listing Agent's Description

Wonderful, spacious open plan. Large living area with gas fireplace is open to eat-in kitchen and formal dining. Downstairs also features a study, half bath and large laundry room. Upstairs are 4 bedrooms, 2 full baths and a second living area. Privacy fenced backyard has a covered patio.

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: Mustang Creek

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Mustang Creek

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
Criswell Elementary School Primary Regular 562 32 8
Criswell Elementary School Middle Regular 562 32 8
North Forney High School High Regular 1,274 83 7

Criswell Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

Criswell Elementary School

  • Education Level: Middle
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

North Forney High School

  • Education Level: High
  • # of students: 1,274
  • # of teachers: 83
7
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$956
Property Tax -$594
Property Insurance -$183
HOA -$20
Property Management Fees -$99
CASH FLOW
$149

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.

$259,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.26%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$26,803

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,122

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$2,0003$2,0454$2,1005$2,285
$2,285
RENT COMPS ANALYSIS
  • 145 Wandering Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 2205 Woodberry Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2006
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.79
    •  
  • 1965 Travertine Lane Heartland, TX 3
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2018
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.80
    •  
  • 108 Highcreek Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 134 Kelli Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 2007
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,285
    • $0.80
    •  
PROPERTY LISTING DETAILS
Mary Alessio
Malone And Associates Re
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14412726
Last Updated: 08/20/2020
BESbswy