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18131 Lakefront Court Forney, TX 75126

4 Beds 3 Baths 2,233 sqft Built 2020

$316,490

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $141.73
  • 6 Days on Market
  • MLS # : 14516238
  • Updated Date : 02/12/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,233 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

Amazing 2 story home with beautiful Arch over front door entry, large open family room, casual dining and kitchen. Great covered patio for outdoor entertaining. 3 beds w. walk-in closets and bath (dual sinks) up. PLEASE SEE SHOWING INSTRUCTIONS... Plan 2233

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

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
 

$284,841$348,139$316,490

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 -$1,099
Property Tax -$725
Property Insurance -$156
HOA -$50
Property Management Fees -$99
CASH FLOW
-$30

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.

$316,490

PROJECTED PRICE

$2,100

PROJECTED RENT

0.66%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,870

INVESTMENT

$85,870

Down Payment
$79,123
Rehab Estimate
$2,000
Closing Costs
$4,747

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,099

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,123
Loan Amount $237,368
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,704

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
  • $0.94

    LIST RENT PER SQFT
  • $2,071

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9504$2,1005$2,145
$2,145
RENT COMPS ANALYSIS
  • 18131 Lakefront Court Forney, TX 4
    • 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,233 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 1615 Luckenbach Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 2002 Sage Brush Drive Forney, TX 2
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2014
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 1110 Kimbro Drive Forney, TX 3
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2006
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 1638 Luckenbach Drive Forney, TX 5
    • 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
    •  
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 #: 14516238
Last Updated: 02/12/2021
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