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2118 Danibelle Drive Forney, TX 75126

4 Beds 3 Baths 2,136 sqft Built 2015

$245,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $114.70
  • 2 Days on Market
  • MLS # : 14480406
  • Updated Date : 12/05/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,136 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Landmark

Listing Agent's Description

You will love this spacious 4 bed, 2.1 bath home! The covered front porch adds a welcoming touch to this charming home. The open plan living area is perfect for entertaining and brings a sense of space & comfort to this home, complete with a cozy fireplace perfect for roasting marshmallows. The chef in your house will love the spacious kitchen boasting granite counters, tons of cabinet space and large island. Master suite features massive walk-in closet, dual vanities & garden tub. With walk-in closets everywhere, added storm room which is also great for storage, and water purification system. The possibilities are endless in the spacious backyard with room for pool or play set. Don’t let this one get away!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$220,500$269,500$245,000

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 -$904
Property Tax -$683
Property Insurance -$151
HOA -$33
Property Management Fees -$99
CASH FLOW
-$20

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.

$245,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.76%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,571

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
  • $0.87

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,835
1$1,8352$1,8503$1,9254$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 2118 Danibelle Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 2009 Robincreek Cove Heartland, TX 1
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006
    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
    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
    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
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Delanee Clark
Re/max Landmark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480406
Last Updated: 12/05/2020
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