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

1564 Kleberg Drive Forney, TX 75126

4 Beds 3 Baths 2,593 sqft Built 2018

$399,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $154.22
  • 3 Days on Market
  • MLS # : 14530232
  • Updated Date : 03/20/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,593 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite

Listing Agent's Description

Awesome 2,593 sqft. per building plan, 4br, 3full Baths, 3car garage Home in The Outstanding Neighborhood of GATEWAY PARKS. It has nearly everything to love, starting with a Custom Decorated Man-Cave Garage with space for your Cars as well. Professionally landscaped with Cedar borders. Upgraded Wood-like ceramic tile flooring throughout first floor, & a Family Room wall custom decorated with Reclaimed Texas Barn Planks and a Breezeway overlooking the Family Room. The Kitchen is fully updated with a Hollywood style Quartz Island, & Gas cooktop. The Master BR and Guest Rm are on the first floor. Upstairs boast 2 large bedrooms, and the neighborhood has 7 designated Green Spaces & Community Pool and Park area.

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Warren Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 39
9
GreatSchools Rating

Forney High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 88
8
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,389
Property Tax -$916
Property Insurance -$172
HOA -$60
Property Management Fees -$99
CASH FLOW
-$766

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$399,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$37

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,143

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8703$1,8754$1,9955$2,450
$2,450
RENT COMPS ANALYSIS
  • 1564 Kleberg Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.75
    •  
  • 3026 Marble Falls Drive Forney, TX 1
    • 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 2012
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 1003 Bainbridge Lane Forney, TX 3
    • 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 2002
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.87
    •  
  • 1257 Meridian Drive Forney, TX 4
    • 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2017
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 1212 Kensington Drive Forney, TX 5
    • 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,665 Sqft ∙ Built 2020
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Curtis Anderson
Century 21 Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530232
Last Updated: 03/20/2021
BESbswy