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

213 Pinewood Trail Forney, TX 75126

4 Beds 3 Baths 3,053 sqft Built 2004

$309,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $101.51
  • 4 Days on Market
  • MLS # : 14511039
  • Updated Date : 03/06/2021 at 20:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,053 sqft
  • Baths : 2 full , 1 half
Listing Agent

Riter Group

Listing Agent's Description

**MULTIPLE OFFERS RECEIVED*** Best and Final Offer deadline is Sunday, March 7th at 5pm. You must see this gorgeous, updated 4 bed, 2.5 bath home in sought after Trails of Chestnut Meadows in Forney ISD. A cozy front porch welcomes you into this spacious home with an open concept floor plan, perfect for entertaining. On trend design choices include fresh gray paint, luxury vinyl plank flooring, quartz countertops and stainless steel appliances. The home also has a dedicated study, formal dining room, and second living space upstairs, perfect for a game room! All four bedrooms are very spacious and the primary boasts a wonderfully large walk in closet. Enjoy nights out on your back patio and large backyard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Trails of Chestnut Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Trails of Chestnut Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Warren Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 39
9
GreatSchools Rating

Forney High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 88
8
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,076
Property Tax -$710
Property Insurance -$204
HOA -$37
Property Management Fees -$99
CASH FLOW
-$176

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$309,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$900k

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,145

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,0454$2,1995$2,250
$2,250
RENT COMPS ANALYSIS
  • 213 Pinewood Trail Forney, TX 1
    • 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 543 Chestnut Trail Forney, TX 2
    • 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,936 Sqft ∙ Built 2004
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.68
    •  
  • 320 Cherrywood Trail Forney, TX 3
    • 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2002
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.73
    •  
  • 503 Chestnut Trail Forney, TX 4
    • 5 beds 3 baths ∙ 3,104 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,104 Sqft ∙ Built 2003
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.71
    •  
  • 613 Chestnut Trail Forney, TX 5
    • 5 beds 3 baths ∙ 3,238 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,238 Sqft ∙ Built 2007
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.69
    •  
PROPERTY LISTING DETAILS
Deidra Ruchaber
Riter Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511039
Last Updated: 03/06/2021
BESbswy