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2114 Brenham Drive Forney, TX 75126

4 Beds 3 Baths 2,351 sqft Built 2016

$289,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $122.93
  • 6 Days on Market
  • MLS # : 14506740
  • Updated Date : 01/28/2021 at 14:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,351 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Allen-fairview

Listing Agent's Description

Lovingly maintained 4 brm, 2.1 bath Lennar home in Forney’s sought-after Heartland Community is move in ready! The well thought out floor plan has a large family room w wood burning fireplace that is open to the spacious kitchen. The oversized kitchen island w granite counter tops make meal prep a delight. Flex space is currently a homeschool classroom but would make a lovely dining area or the perfect home office. Tucked away upstairs is a huge game room w 5.1 surround sound; the perfect hideaway to binge your favorite Netflix series! Solar panels will convey with the home. This bustling community offers pools, biking and hiking trails, fishing, dog park and playgrounds just to name a few of the amenities.

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: Heartland

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

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

Neighborhood: Heartland

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
Barbara Walker Elementary School Primary Regular 585 33 4
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Barbara Walker Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 33
4
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,004
Property Tax -$806
Property Insurance -$160
HOA -$39
Property Management Fees -$99
CASH FLOW
-$218

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.

$289,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,989

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,835
1$1,8352$1,8903$1,9254$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 2114 Brenham Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,299 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.82
    •  
  • 2009 Robincreek Cove Heartland, TX 1
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.87
    •  
  • 3015 Cassinia Parkway Heartland, TX 3
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.89
    •  
  • 3118 Buckthorn Street Heartland, TX 4
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2016
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
  • 4006 Rolling Rock Road Heartland, TX 5
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Wendy Herran
Ebby Halliday, Allen-fairview
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506740
Last Updated: 01/28/2021
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