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2042 Avondown Road Forney, TX 75126

4 Beds 3 Baths 2,399 sqft Built 2017

$309,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $129.18
  • 2 Days on Market
  • MLS # : 14485552
  • Updated Date : 12/12/2020 at 16:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,399 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

FALL IN LOVE WITH THIS GORGEOUS PULTE BUILT HOME IN HIGHLY DESIRED DEVONSHIRE VILLAGE! You will enjoy this popular split floorplan that offers the primary bedroom on the first floor and 3 additional bedrooms on the second floor along with 2.1 bathrooms. The kitchen is a chef's delight with granite countertops, oversized island and stainless steel appliances. The living room features tray ceilings and a beautiful stone surround wood burning fireplace that is sure to please during cool winter nights. Huge backyard with an open canvas to create the backyard paradise of your dreams. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,143
Property Tax -$816
Property Insurance -$166
HOA -$47
Property Management Fees -$99
CASH FLOW
-$81

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.

$309,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$8,740

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,291

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,1504$2,1905$2,500
$2,500
RENT COMPS ANALYSIS
  • 2042 Avondown Road Forney, TX 4
    • 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.91
    •  
  • 315 Blanco Drive Forney, TX 1
    • 3 beds 2 baths ∙ 2,268 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,268 Sqft ∙ Built 2017
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 1301 Torrington Lane Forney, TX 2
    • 5 beds 3 baths ∙ 2,206 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,206 Sqft ∙ Built 2017
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
  • 1020 Dunhill Forney, TX 3
    • 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2014
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.00
    •  
  • 1423 Darlington Lane Forney, TX 5
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2018
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485552
Last Updated: 12/12/2020
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