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2050 Dripping Springs Drive Forney, TX 75126

3 Beds 2 Baths 1,973 sqft Built 2010

$265,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $134.31
  • 3 Days on Market
  • MLS # : 14524189
  • Updated Date : 03/12/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,973 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Great single-story home located in the sought-after community of Travis Ranch. Featuring a large front porch, 3 bed, 2 baths, an open-concept floor plan with an eat-in kitchen and separate dining room. The kitchen and breakfast area provide uninterrupted access to the living area. Private master en-suite with dual sinks, garden tub, separate shower, and walk-in closet. The dining room at the front of the home could be used as a home office if one so desires given the separation from the rest of the home. You will not want to miss this one!

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: 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
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$920
Property Tax -$675
Property Insurance -$141
HOA -$30
Property Management Fees -$99
CASH FLOW
-$16

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.

$265,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.70%

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) 8.00%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,869

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8503$1,8504$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2050 Dripping Springs Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 2012 Fort Stockton Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 2010
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.92
    •  
  • 2102 Jack County Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2010
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 2001 Davy Crockett Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 2013
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 2030 Colorado Bend Drive Forney, TX 5
    • 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 2009
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
PROPERTY LISTING DETAILS
Nick Termini
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524189
Last Updated: 03/12/2021
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