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

1501 Havenrock Drive Forney, TX 75126

3 Beds 3 Baths 2,004 sqft Built 2004

$245,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $122.26
  • 2 Days on Market
  • MLS # : 14488118
  • Updated Date : 12/19/2020 at 09:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 3 full
Listing Agent

Bsa Realty

Listing Agent's Description

Cute single story with beautiful brick elevation and swing style garage! Inside you will find 3 beds, a study which can be a bedroom, 2 full baths, formal dining or formal living, and a 2-car garage! The family area is open and has vaulted ceilings, archways throughout the home, fireplace in the living room. The home flooring features ceramic tile and wood. Large backyard, short drive to major shopping. Foundation estimate shows minor movement on the front garage.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Diamond Creek

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Diamond 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
Crosby Elementary School Primary Regular 446 28 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Crosby Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 28
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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$904
Property Tax -$561
Property Insurance -$143
HOA -$27
Property Management Fees -$99
CASH FLOW
-$54

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.

$245,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,849

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,8504$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 1501 Havenrock Drive Forney, TX 1
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.84
    •  
  • 2227 Overton Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 2006
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 2113 Thistle Lane Forney, TX 3
    • 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2007
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 133 Painted Trail Forney, TX 4
    • 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 2007
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 2302 Sparrow Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2019
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Cortney Kelley
Bsa Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488118
Last Updated: 12/19/2020
BESbswy