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18115 Lakefront Court Forney, TX 75126

4 Beds 4 Baths 2,433 sqft Built 2020

$327,405

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $134.57
  • 2 Days on Market
  • MLS # : 14527960
  • Updated Date : 03/06/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,433 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

Cozy 2 story home with 4 beds and 3.5 baths, tall ceilings, open kitchen, casual dining and family room with fireplace. PLEASE SEE SHOWING INSTRUCTIONS... Plan 2433

SEE MORE

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
Lewis Elementary School Primary Regular 472 27 7
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Lewis Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 27
7
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
 

$294,665$360,146$327,405

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,137
Property Tax -$750
Property Insurance -$168
HOA -$63
Property Management Fees -$99
CASH FLOW
-$77

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.

$327,405

PROJECTED PRICE

$2,140

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,762

INVESTMENT

$88,762

Down Payment
$81,851
Rehab Estimate
$2,000
Closing Costs
$4,911

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,137

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,851
Loan Amount $245,554
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,123

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1404$2,1455$2,150
$2,150
RENT COMPS ANALYSIS
  • 18115 Lakefront Court Forney, TX 3
    • 4 beds 4 baths ∙ 2,433 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,433 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.88
    •  
  • 2011 Childress Drive Forney, TX 1
    • 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 1008 Camp Verde Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 1638 Luckenbach Drive Forney, TX 4
    • 4 beds 2 baths ∙ 2,318 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,318 Sqft ∙ Built 2020
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.93
    •  
  • 2014 Sage Brush Drive Forney, TX 5
    • 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,480 Sqft ∙ Built 2012
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
PROPERTY LISTING DETAILS
Derek Phelps
Jeanette Anderson Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527960
Last Updated: 03/06/2021
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