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2039 Crosby Drive Forney, TX 75126

4 Beds 3 Baths 2,280 sqft Built 2020

$305,922

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $134.18
  • 2 Days on Market
  • MLS # : 14485366
  • Updated Date : 12/11/2020 at 17:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14485366 - Built by CastleRock Communities - Ready Now! ~ 2 Story, 2 Car Garage, 4 Bedroom, 2 ½ Baths, Open Kitchen to Separate Dining and Family Room. Stylish Grey Cabinets with Granite Countertops, Decorative Backsplash, Wood Floors in Foyer, Hallways, Kitchen and Dining, Slate Kitchen Appliances, Blinds, Full Gutters, and Surround Sound Pre-wire.

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: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262024

* 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
 

$275,330$336,514$305,922

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,129
Property Tax -$701
Property Insurance -$159
HOA -$30
Property Management Fees -$99
CASH FLOW
-$138

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$305,922

PROJECTED PRICE

$1,980

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,069

INVESTMENT

$83,069

Down Payment
$76,481
Rehab Estimate
$2,000
Closing Costs
$4,589

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,481
Loan Amount $229,442
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,989

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9803$2,1004$2,1455$2,150
$2,150
RENT COMPS ANALYSIS
  • 2039 Crosby Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.87
    •  
  • 2011 Childress Drive Forney, TX 1
    • 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 1008 Camp Verde Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006
    property image
    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
    property image
    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
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485366
Last Updated: 12/11/2020
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