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1807 Forest Bend Lane Keller, TX 76248

5 Beds 3 Baths 2,995 sqft Built 1998

INVESTimate

$460,000

List Price

$3,020

$2,770 - $3,270

Rent Est.

$481,114  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $153.59
  • 3 Days on Market
  • MLS # : 14419457
  • Updated Date : 08/25/2020 at 18:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,995 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome home to Keller! This 5 bedroom open concept home is warm and inviting with hard wood and ceramic tile throughout the downstairs. Kitchen has granite counter tops, an island and a gorgeous window view of the pool. 2 dining and living areas and office or extra bedroom. Master bath has been updated and leads into large closet with a window. Jack and Jill bath upstairs and playroom for the kids. Back yard boasts large pool with water feature, seating area and large driveway for the kids to play secure with iron gate. Highly sought after KISD. Amenities include, clubhouse, playground, 3 community pools, volleyball court, soccer field, and golf course. Forest Bend connect to the kike and bike trail system.

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: Bloomfield at Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k427k

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

Neighborhood: Bloomfield at Hidden Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263088

* 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
Florence Elementary School Primary Regular 500 35 10
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Florence Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 35
10
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$1,697
Property Tax -$965
Property Insurance -$200
HOA -$43
Property Management Fees -$99
CASH FLOW
$15

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.

$460,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$25,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,696

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6753$2,7004$2,9005$3,020
$3,020
RENT COMPS ANALYSIS
  • 1807 Forest Bend Lane Keller, TX 5
    • 5 beds 3 baths ∙ 2,995 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,995 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.01
    •  
  • 327 Glen Hollow Keller, TX 1
    • 4 beds 4 baths ∙ 2,882 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,882 Sqft ∙ Built 1998
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
  • 2207 Graystone Court Keller, TX 2
    • 4 beds 3 baths ∙ 3,159 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,159 Sqft ∙ Built 2001
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.85
    •  
  • 333 Longview Drive Keller, TX 3
    • 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2000
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
  • 131 Harrell Drive Southlake, TX 4
    • 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,969 Sqft ∙ Built 1987
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.98
    •  
PROPERTY LISTING DETAILS
Terra Wood
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419457
Last Updated: 08/25/2020
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