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1612 Yellowstone Drive Forney, TX 75126

4 Beds 3 Baths 2,708 sqft Built 2018

$350,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $129.25
  • 2 Days on Market
  • MLS # : 14473285
  • Updated Date : 11/21/2020 at 14:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,708 sqft
  • Baths : 3 full
Listing Agent

United Real Estate

Listing Agent's Description

IMMACULATELY MAINTAINED DAVID WEEKLY HOME WITH AN OPEN CONCEPT, FLOORPLANS OF THIS SPACIOUS SQFT NO LONGER OFFERED WITHIN THIS SUBDIVISION. CATCH IT WHILE YOU CAN! SELLER OFFERING 1 YR SERVICE WARRANTY UP TO $500. MASTERPLANNED COMMUNITY WITH AMENITIES FOR EVERY FAMILY MEMBER TO ENJOY, OWNER'S SUITE SEPERATE FROM GUEST BEDROOMS, ONE GUEST BDRM HAS ENSUITE BATHROOM, HARDWOOD FLOORS IN LIVING AREAS, CARPETED BEDROOMS, GRANITE COUNTERTOPS, UNDERMOUNTED SINK, CUSTOM SHADES, EXTENDED PATIO, MUD ROOM, SPACIOUS UTILITY ROOM, TANKLESS WATERHEATER, WALK-IN PANTRY, STAINLESS STEEL APPLICANCES, SPRINKLER SYSTEM INFO DEEMED RELIABLE BUT NOT GUARANTEED 5 TV MOUNTS CONVEY WITH PROPERTY

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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
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,291
Property Tax -$802
Property Insurance -$184
HOA -$60
Property Management Fees -$99
CASH FLOW
-$196

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.

$350,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.64%

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,227

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$1,9953$2,1004$2,1955$2,240
$2,240
RENT COMPS ANALYSIS
  • 1612 Yellowstone Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.83
    •  
  • 3119 Granite Rock Trail Forney, TX 1
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2015
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.81
    •  
  • 1257 Meridian Drive Forney, TX 2
    • 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2017
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 3111 Granite Rock Trail Forney, TX 3
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 2015
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
  • 1549 Kessler Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2018
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tia Nobles
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473285
Last Updated: 11/21/2020
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