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1623 Castleford Drive Forney, TX 75126

4 Beds 4 Baths 2,613 sqft Built 2019

$349,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $133.91
  • 2 Days on Market
  • MLS # : 14508833
  • Updated Date : 01/30/2021 at 09:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,613 sqft
  • Baths : 4 full
Listing Agent

Riter Group

Listing Agent's Description

Gorgeous, upgraded, like-new home with a modern-traditional flair in Forney's popular Devonshire Neighborhood...featuring an open floorplan with a large living room flowing to the kitchen and breakfast areas, a separate formal dining, an abundance of cabinet and counter space, an amazing upstairs living area, and a spacious covered patio for outdoor entertaining! This home is in excellent condition and shows like a model. High quality luxury vinyl plank and ceramic tile flooring are just icing on the cake! Subdivision has attractive amenities for family enjoyment, and a great location near highways, shopping, dining, schools, medical facilities, and more! Do not hesitate on this stunning home...View it today!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,215
Property Tax -$802
Property Insurance -$178
HOA -$47
Property Management Fees -$99
CASH FLOW
$89

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.

$349,900

PROJECTED PRICE

$2,430

PROJECTED RENT

0.69%

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) 8.00%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,397

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4303$2,5004$2,5005$2,595
$2,595
RENT COMPS ANALYSIS
  • 1623 Castleford Drive Forney, TX 2
    • 4 beds 4 baths ∙ 2,613 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,613 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.93
    •  
  • 1543 Tavistock Road Forney, TX 1
    • 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 2035 Avondown Road Forney, TX 3
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 1525 Tavistock Road Forney, TX 4
    • 3 beds 4 baths ∙ 2,641 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,641 Sqft ∙ Built 2017
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 1005 Finsbury Park Forney, TX 5
    • 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nan Riter
Riter Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508833
Last Updated: 01/30/2021
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