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2119 Devonblue Drive Forney, TX 75126

4 Beds 3 Baths 3,430 sqft Built 2021

$394,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Built In 2021
  • Price/Sqft : $114.87
  • 9 Days on Market
  • MLS # : 14460566
  • Updated Date : 10/27/2020 at 08:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,430 sqft
  • Baths : 2 full , 1 half
Listing Agent

Classic Property Management

Listing Agent's Description

New Bloomfield Home Ready for Move-in January 2021! 2-story that sits on Large Corner Lot in the friendly Devonshire neighborhood. Open floorplan that flows effortlessly from entry to back patio. Formal Dining Room and Study with Walk-in closet at front of home. Plenty of windows throughout bring in natural lighting. Gorgeous Deluxe Kitchen includes Built-in SS Appliances and Designer finishes. Bedroom Suite with Deluxe Bath, includes private vanities, tile surround tub, and walk-in shower. Family Room features Stone to Ceiling Fireplace with direct vent. Upstairs Game Room & Media Room to entertain friends & family. Mud Room. Covered Back Patio, Fully Fenced & Landscaped. So much more, call to learn more!

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: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k341k

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

Neighborhood: Devonshire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262677

* 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
Crosby Elementary School Primary Regular 446 28 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Crosby Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 28
6
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
 

$354,600$433,400$394,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,454
Property Tax -$934
Property Insurance -$225
HOA -$47
Property Management Fees -$99
CASH FLOW
-$319

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.

$394,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,410

INVESTMENT

$106,410

Down Payment
$98,500
Rehab Estimate
$2,000
Closing Costs
$5,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,454

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,500
Loan Amount $295,500
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,061

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,487

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,4403$2,790
$2,790
RENT COMPS ANALYSIS
  • 2119 Devonblue Drive Forney, TX 2
    • 4 beds 3 baths ∙ 3,430 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,430 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.71
    •  
  • 2019 Aster Trail Forney, TX 1
    • 5 beds 3 baths ∙ 3,100 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,100 Sqft ∙ Built 2004
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.63
    •  
  • 1009 Knoxbridge Drive Forney, TX 3
    • 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.82
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460566
Last Updated: 10/27/2020
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