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2130 Hobby Drive Forney, TX 75126

3 Beds 2 Baths 1,418 sqft Built 2020

$258,215

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $182.10
  • 68 Days on Market
  • MLS # : 14483951
  • Updated Date : 02/12/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

Cozy 1 story home with 3 beds and 2 baths, open kitchen, casual dining and family room with fireplace. Beautiful covered patio. PLEASE SEE SHOWING INSTRUCTIONS... PLAN 3213

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75126

ZipNIR 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
Lewis Elementary School Primary Regular 472 27 7
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Lewis Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 27
7
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
 

$232,394$284,037$258,215

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$897
Property Tax -$592
Property Insurance -$109
HOA -$50
Property Management Fees -$99
CASH FLOW
-$357

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$258,215

PROJECTED PRICE

$1,390

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,427

INVESTMENT

$70,427

Down Payment
$64,554
Rehab Estimate
$2,000
Closing Costs
$3,873

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$897

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,554
Loan Amount $193,661
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$15

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,422

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,6253$1,6494$1,6505$1,699
$1,699
RENT COMPS ANALYSIS
  • 2130 Hobby Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.98
    •  
  • 2103 Red River Road Forney, TX 2
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2013
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
  • 5704 Mcclelland Street Forney, TX 3
    • 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.98
    •  
  • 2071 Enchanted Rock Drive Forney, TX 4
    • 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,636 Sqft ∙ Built 2016
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 5664 Mcclelland Street Forney, TX 5
    • 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.01
    •  
PROPERTY LISTING DETAILS
Derek Phelps
Jeanette Anderson Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483951
Last Updated: 02/12/2021
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