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1624 Pegasus Drive Forney, TX 75126

4 Beds 4 Baths 2,820 sqft Built 2020

$391,083

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $138.68
  • 7 Days on Market
  • MLS # : 14478880
  • Updated Date : 12/02/2020 at 08:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,820 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14478880 - Built by Highland Homes - January completion! ~ Beautiful, open 1 story floor plan with 11 ft ceilings and 8 ft windows! 4 bedrooms and 3.5 baths, 3 car tandem garage, bay windows in master and dining room, fireplace, extended outdoor patio, painted cabinets and much more!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$351,975$430,191$391,083

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,443
Property Tax -$896
Property Insurance -$190
HOA -$60
Property Management Fees -$99
CASH FLOW
-$588

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$391,083

PROJECTED PRICE

$2,100

PROJECTED RENT

0.54%

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) 3.00%
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-$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$105,637

INVESTMENT

$105,637

Down Payment
$97,771
Rehab Estimate
$2,000
Closing Costs
$5,866

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,443

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,771
Loan Amount $293,312
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$14

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,080

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,9954$2,1005$2,195
$2,195
RENT COMPS ANALYSIS
  • 1624 Pegasus Drive Forney, TX 4
    • 4 beds 4 baths ∙ 2,820 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,820 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 1012 Hanover Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,540 Sqft ∙ Built 2002
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 1102 Halifax Lane Forney, TX 2
    • 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,544 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
  • 1257 Meridian Drive Forney, TX 3
    • 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
    •  
  • 1549 Kessler Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,719 Sqft ∙ Built 2018
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.81
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478880
Last Updated: 12/02/2020
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