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2039 Avondown Road Forney, TX 75126

3 Beds 2 Baths 2,018 sqft Built 2017

INVESTimate

$255,000

List Price

$1,920

$1,728 - $2,112

Rent Est.

$269,688  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $126.36
  • 6 Days on Market
  • MLS # : 14417398
  • Updated Date : 08/21/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,018 sqft
  • Baths : 2 full
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Wonderful home in Devonshire with three bedrooms plus an office. Spacious living area opens to the dining area and island kitchen with breakfast bar, granite counters, and stainless appliances. Large master suite featuring master bath with dual vanity, garden tub, and a separate shower. Great backyard with a covered patio and wood privacy fence. Neighborhood features community pool, parks, jogging path, and much more!

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
Crosby Elementary School Primary Regular 446 28 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Crosby Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 28
6
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$941
Property Tax -$671
Property Insurance -$144
HOA -$47
Property Management Fees -$99
CASH FLOW
$18

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.

$255,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,241

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8954$1,9205$2,150
$2,150
RENT COMPS ANALYSIS
  • 2039 Avondown Road Forney, TX 4
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.95
    •  
  • 2026 Avondown Road Forney, TX 1
    • 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2017
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 2071 Rosebury Lane Forney, TX 2
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2017
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 2081 Rosebury Lane Forney, TX 3
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 2017
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 1020 Dunhill Forney, TX 5
    • 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2014
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417398
Last Updated: 08/21/2020
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