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1608 Village Creek Drive Forney, TX 75126

5 Beds 3 Baths 3,042 sqft Built 2017

$359,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $118.31
  • 3 Days on Market
  • MLS # : 14473308
  • Updated Date : 11/20/2020 at 04:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,042 sqft
  • Baths : 3 full
Listing Agent

C21 Fine Homes Judge Fite

Listing Agent's Description

Pride in ownership makes this 2017 Highland built home ready for move-in! Five bedrooms with two bedrooms downstairs creates possibilities for multi-generational living. The second bedroom and bath downstairs is tucked away for privacy. Open concept living space provides a feeling of unity. Needing that office or study space well you’ve found it. The laundry room has space for storage. Find extra decked storage in the walk-in attic space off upstairs living area. The three car tandem garage is perfect for your hobby space. This floor plan is well thought out and utilizes all the square footage. Location of the amenities to this home couldn’t be any better. Make a visit and see for yourself today!

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
Henderson Elementary School Primary Regular 536 29 7
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Henderson Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 29
7
GreatSchools Rating

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
 

$323,910$395,890$359,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,328
Property Tax -$825
Property Insurance -$203
HOA -$60
Property Management Fees -$99
CASH FLOW
-$175

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.

$359,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.65%

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-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,342

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,025
1$2,0252$2,3403$2,4004$2,500
$2,500
RENT COMPS ANALYSIS
  • 1608 Village Creek Drive Forney, TX 2
    • 5 beds 3 baths ∙ 3,042 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,042 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.77
    •  
  • 3014 Flowering Springs Drive Forney, TX 1
    • 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,724 Sqft ∙ Built 2016
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.74
    •  
  • 109 Bugle Call Road Forney, TX 3
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 15088 Layden Farms Lane Talty, TX 4
    • 4 beds 3 baths ∙ 3,250 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,250 Sqft ∙ Built 2019
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
PROPERTY LISTING DETAILS
Teresa Bruszer
C21 Fine Homes Judge Fite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473308
Last Updated: 11/20/2020
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