Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2098 Calllahan Drive Forney, TX 75126

4 Beds 3 Baths 2,280 sqft Built 2020

$323,419

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $141.85
  • 8 Days on Market
  • MLS # : 14485766
  • Updated Date : 12/15/2020 at 11:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14485766 - Built by CastleRock Communities - April completion! ~ 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, 2 Pendant Lights at Breakfast Bar, Vinyl Plank Floors in Foyer, Hall, Kitchen, Dining and Family Room, Slate Kitchen Appliances, 3 Pendant Lights at Kitchen Island, and Blinds.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$291,077$355,761$323,419

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 -$1,193
Property Tax -$741
Property Insurance -$159
HOA -$30
Property Management Fees -$99
CASH FLOW
-$242

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.

$323,419

PROJECTED PRICE

$1,980

PROJECTED RENT

0.61%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$87,706

INVESTMENT

$87,706

Down Payment
$80,855
Rehab Estimate
$2,000
Closing Costs
$4,851

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,193

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,855
Loan Amount $242,564
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,454

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
  • 2098 Calllahan 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 #: 14485766
Last Updated: 12/15/2020
BESbswy