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1950 Knoxbridge Road Forney, TX 75126

5 Beds 3 Baths 3,054 sqft Built 2014

$384,990

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $126.06
  • 4 Days on Market
  • MLS # : 14517381
  • Updated Date : 02/11/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,054 sqft
  • Baths : 3 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

No showings till open house 2-12 at 1pm. Have you been looking for a home on an oversized lot in a great established neighborhood? This beautiful Bloomfield home boasts upgrades throughout. From the engineered wood floors to the large master with bay window. This home has it all! Huge game room upstairs with bedroom and full bath make it perfect to spread out. The oversized lot means the new owner will get to enjoy a huge backyard and a beautiful wide elevation. Come see the house and make it your forever home!

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: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k341k

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

Neighborhood: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262677

* 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
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7
Brown Middle School Middle Unknown NA

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

Brown Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$346,491$423,489$384,990

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,337
Property Tax -$997
Property Insurance -$204
HOA -$47
Property Management Fees -$99
CASH FLOW
-$304

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$384,990

PROJECTED PRICE

$2,380

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$107,772

INVESTMENT

$107,772

Down Payment
$96,248
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,248
Loan Amount $288,743
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,077

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,1004$2,1005$2,380
$2,380
RENT COMPS ANALYSIS
  • 1950 Knoxbridge Road Forney, TX 5
    • 5 beds 3 baths ∙ 3,054 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,054 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.78
    •  
  • 1234 Wedgewood Drive Forney, TX 1
    • 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 2009
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.60
    •  
  • 2019 Northridge Drive Forney, TX 2
    • 5 beds 3 baths ∙ 2,863 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,863 Sqft ∙ Built 2005
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
  • 2002 Northridge Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2005
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 2102 Northridge Drive Forney, TX 4
    • 4 beds 4 baths ∙ 3,016 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,016 Sqft ∙ Built 2005
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
PROPERTY LISTING DETAILS
Joey Stanbery
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517381
Last Updated: 02/11/2021
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