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17022 Lochwood Lane Forney, TX 75126

4 Beds 3 Baths 3,088 sqft Built 2016

$549,999

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $178.11
  • 5 Days on Market
  • MLS # : 14462977
  • Updated Date : 11/02/2020 at 15:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,088 sqft
  • Baths : 3 full
Listing Agent

Base Realty

Listing Agent's Description

Impeccable CUSTOM home on beautiful 1 acre adjacent to private greenbelt. Stone and Brick elevation, amazing landscape and grand entry. Modern farmhouse open plan with vaulted ceilings, surround sound, large decorative beams, plantation shutters, can lights, crown molding & wood-look tile throughout. Stunning kitchen feat. custom cabinetry, farmhouse sink, granite & gas appliances. Huge master suite w vaulted ceilings, custom lighting, sitting area, dual vanities and walk-in dual shower. Outdoor OASIS! Grand outdoor living w surround sound, mister valve, built-in grill, sink & fridge. Great POOL large decking in massive backyard w privacy fence. Climate controlled LARGE shop! Storm shelter in 3 car garage.

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: Lakehurst Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lakehurst Meadows

NeighborhoodNIR 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
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
 

$494,999$604,999$549,999

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,029
Property Tax -$1,260
Property Insurance -$206
Property Management Fees -$99
CASH FLOW
-$854

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.

$549,999

PROJECTED PRICE

$2,740

PROJECTED RENT

0.50%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,499
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.

  • $2,740

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,694

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,6003$2,6504$2,7405$2,790
$2,790
RENT COMPS ANALYSIS
  • 17022 Lochwood Lane Forney, TX 4
    • 4 beds 3 baths ∙ 3,088 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,088 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.89
    •  
  • 1543 Tavistock Road Forney, TX 1
    • 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,770 Sqft ∙ Built 2017
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 1005 Cadbury Lane Forney, TX 2
    • 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 1213 Hundgate Way Forney, TX 3
    • 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 2017
    property image
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.91
    •  
  • 1009 Knoxbridge Drive Forney, TX 5
    • 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.82
    •  
PROPERTY LISTING DETAILS
Chase Crawford
Base Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462977
Last Updated: 11/02/2020
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