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2039 Wildwood Drive Forney, TX 75126

3 Beds 2 Baths 1,551 sqft Built 2004

INVESTimate

$199,900

List Price

$1,500

$1,350 - $1,650

Rent Est.

$211,414  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $128.88
  • 8 Days on Market
  • MLS # : 14416739
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,551 sqft
  • Baths : 2 full
Listing Agent

S & S Property Services

Listing Agent's Description

Lovely, well maintained home in highly desired the highly desired town of Forney. Schedule a showing to see this 3 bedroom, 2 bath home. Complete with 2 dining areas and 1 living area with a gas starter fireplace! Spacious master bedroom with new plank vinyl, 2 additional rooms have carpet. Fresh paint throughout! Make this your future home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Honeysuckle Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $114k250k

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

Neighborhood: Honeysuckle Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262010

* 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

  • 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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$738
Property Tax -$458
Property Insurance -$117
HOA -$41
Property Management Fees -$99
CASH FLOW
$47

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.

$199,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$14,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,508

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,5003$1,5954$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 2039 Wildwood Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 2001 Fairview Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2003
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.93
    •  
  • 2007 Fairview Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 2211 Sumac Drive Forney, TX 4
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 2033 Wildwood Drive Forney, TX 5
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 2004
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.97
    •  
PROPERTY LISTING DETAILS
Bryne Taylor
S & S Property Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416739
Last Updated: 08/20/2020
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