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2118 Long Forest Road Heartland, TX 75126

3 Beds 2 Baths 1,822 sqft Built 2016

$259,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $142.65
  • 3 Days on Market
  • MLS # : 14538270
  • Updated Date : 03/26/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

Welcome to this charming and updated Home built by Bloomfield with 3 bedrooms and 2 full bathrooms. The beautiful brick exterior is matched with an even more elegant interior. Inside you'll enjoy an open-concept living area for social gatherings, added cabinetry hardware for a gorgeous finishing touch in the kitchen. Engineered hardwood floors throughout the home (only carpet in the 3 bedrooms). Custom shelving and a wood accent wall in office; double (extended) size shower in master bath with additional overhead rain shower; prewired surround sound in the living room, kitchen, dining room, and outside patio. The back patio is covered for your outdoor enjoyment. Come make this house your home!

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*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Heartland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800Rent in $11261873

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$903
Property Tax -$725
Property Insurance -$133
HOA -$77
Property Management Fees -$99
CASH FLOW
-$166

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.

$259,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.68%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,776

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6503$1,7604$1,7655$1,770
$1,770
RENT COMPS ANALYSIS
  • 2118 Long Forest Road Heartland, TX 5
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.97
    •  
  • 2036 Times Road Heartland, TX 1
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.98
    •  
  • 2009 Kings Forest Drive Heartland, TX 2
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2007
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 2031 Samantha Lane Heartland, TX 3
    • 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 2010
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.94
    •  
  • 4112 Legend Trail Heartland, TX 4
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2014
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.98
    •  
PROPERTY LISTING DETAILS
Cornelius Smith
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538270
Last Updated: 03/26/2021
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