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201 Eagle Ridge Forney, TX 75126

5 Beds 4 Baths 3,180 sqft Built 2015

$370,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $116.35
  • 5 Days on Market
  • MLS # : 14520415
  • Updated Date : 02/24/2021 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,180 sqft
  • Baths : 3 full , 1 half
Listing Agent

Alicia Trevino International

Listing Agent's Description

Beautiful home in Eagle Ridge with an open concept floor plan, nice kitchen island opens up to the living room and dining area, Master bedroom and a secondary room are on the first floor and three others up. Close to shopping center with grocery and retail stores or plenty of restaurants

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
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
 

$333,000$407,000$370,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,285
Property Tax -$848
Property Insurance -$211
HOA -$20
Property Management Fees -$99
CASH FLOW
$17

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.

$370,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,528

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4803$2,6004$2,6955$2,725
$2,725
RENT COMPS ANALYSIS
  • 201 Eagle Ridge Forney, TX 2
    • 5 beds 4 baths ∙ 3,180 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,180 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.78
    •  
  • 109 Bugle Call Road Forney, TX 1
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 914 Dancing Waters Forney, TX 3
    • 4 beds 4 baths ∙ 3,483 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,483 Sqft ∙ Built 2005
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.75
    •  
  • 1006 White Porch Avenue Forney, TX 4
    • 5 beds 3 baths ∙ 3,322 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,322 Sqft ∙ Built 2005
    LEASED 02/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.81
    •  
  • 1024 Lufkin Lane Forney, TX 5
    • 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.82
    •  
PROPERTY LISTING DETAILS
Tomas Garza
Alicia Trevino International
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520415
Last Updated: 02/24/2021
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