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1515 Calcot Lane Forney, TX 75126

4 Beds 4 Baths 3,049 sqft Built 2020

$398,664

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $130.75
  • 4 Days on Market
  • MLS # : 14480868
  • Updated Date : 12/05/2020 at 09:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,049 sqft
  • Baths : 4 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14480868 - Built by Highland Homes - March completion! ~ Lovely 2 story home featuring open concept family, dining kitchen. The master is at the rear of the home on the first floor for privacy. There is a second bedroom down for guest. Upstairs there are 2 bedrooms with a loft and an entertainment room. This home offers lots of living space.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
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
 

$358,798$438,530$398,664

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,471
Property Tax -$914
Property Insurance -$203
HOA -$47
Property Management Fees -$99
CASH FLOW
-$334

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$398,664

PROJECTED PRICE

$2,400

PROJECTED RENT

0.60%

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) 3.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,646

INVESTMENT

$107,646

Down Payment
$99,666
Rehab Estimate
$2,000
Closing Costs
$5,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,471

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,666
Loan Amount $298,998
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,393

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1753$2,2004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1515 Calcot Lane Forney, TX 4
    • 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,049 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 9320 Bald Cypress Street Forney, TX 1
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2017
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 1024 Finsbury Lane Forney, TX 2
    • 4 beds 3 baths ∙ 3,077 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,077 Sqft ∙ Built 2015
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.71
    •  
  • 2014 Rosebury Lane Forney, TX 3
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017
    property image
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 1005 Cadbury Lane Forney, TX 5
    • 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480868
Last Updated: 12/05/2020
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