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1501 Calcot Lane Forney, TX 75126

4 Beds 3 Baths 2,227 sqft Built 2018

$320,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $143.69
  • 3 Days on Market
  • MLS # : 14527762
  • Updated Date : 03/05/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,227 sqft
  • Baths : 2 full , 1 half
Listing Agent

Alicia Trevino International

Listing Agent's Description

Like New PERRY HOME in highly desired DEVONSHIRE VILLAGE. Smart home features a nest thermostat and brand new google mini. This home still looks and shows like a model! A mahogany door greets you as you enter the extended entry with a 12-foot coffered ceiling that leads past the formal dining room to an open family room with a fireplace. The formal dining room and family room boast ceramic tile floors and a large island breakfast bar. Secondary bedrooms feature abundant closets and storage space. This home sits on a corner with a beautiful oversized backyard and 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: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k341k

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

Neighborhood: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262677

* 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
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7
Brown Middle School Middle Unknown NA

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

Brown Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,111
Property Tax -$829
Property Insurance -$156
HOA -$40
Property Management Fees -$99
CASH FLOW
-$125

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.

$320,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,066

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,0004$2,1105$2,275
$2,275
RENT COMPS ANALYSIS
  • 1501 Calcot Lane Forney, TX 4
    • 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.95
    •  
  • 9040 Bald Cypress Street Forney, TX 1
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2018
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 1046 Dancing Waters Forney, TX 2
    • 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 301 Stanford Forney, TX 3
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2005
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 1029 Dancing Waters Forney, TX 5
    • 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.96
    •  
PROPERTY LISTING DETAILS
Elena Sanchez
Alicia Trevino International
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527762
Last Updated: 03/05/2021
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