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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $97.18
- 3 Days on Market
- MLS # : 14492948
- Updated Date : 01/01/2021 at 19:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,624 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Apex, Realtors
Listing Agent's Description
Great value in Mustang Creek! This 4 bedroom home is perfect for a large family with lots of room for everyone. On the first floor, you will find the office with double doors, a formal dining area and a large kitchen with an abundance of cabinet and countertop space. The family room is open with a cozy corner fireplace and lots of natural light. The second floor offers a kids retreat or game room and spacious secondary bedrooms with walk in closets. includes a large backyard and a bonus third car garage. The entire upstairs carpet was replaced in Dec 2020.
SEE MORE
- # 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: Mustang Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mustang Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,150 |
| EXPENSES | Loan Payment | -$941 |
| Property Tax | -$584 | |
| Property Insurance | -$179 | |
| HOA | -$20 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$327
|
||
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.
$255,000
PROJECTED PRICE
$2,150
PROJECTED RENT
0.84%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 7.3% |
| 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
$73,325
LOAN DETAILS
$941
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
10.58
YEARS SAVED
$46,069
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,150
LIST RENT -
$0.82
LIST RENT PER SQFT
-
$2,152
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
153 Redbud Drive Forney, TX 4
- 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $2,150
- $0.82
-
123 Freedom Trail Forney, TX 1
- 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 2006
LEASED 01/20/20- Rent
- Rent Per SQFT
- $1,750
- $0.72
-
108 Highcreek Drive Forney, TX 2
- 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005
LEASED 05/16/20- Rent
- Rent Per SQFT
- $2,100
- $0.75
-
108 Lonesome Dove Lane Forney, TX 3
- 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2004
LEASED 11/04/20- Rent
- Rent Per SQFT
- $2,150
- $0.82
-
512 Appaloosa Drive Forney, TX 5
- 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2003
LEASED 03/20/20- Rent
- Rent Per SQFT
- $2,600
- $0.99
PROPERTY LISTING DETAILS
Coldwell Banker Apex, Realtors
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14492948
Last Updated: 01/01/2021
