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216 Sequoia Drive Forney, TX 75126

4 Beds 3 Baths 2,786 sqft Built 2020

$396,060

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $142.16
  • 7 Days on Market
  • MLS # : 14461709
  • Updated Date : 10/30/2020 at 13:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,786 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14461709 - Built by UnionMain Homes - December completion! ~ The expansive one-story layout offers four bedrooms and three baths, including the master suite with a large walk-in closet and an opulent suite with a double vanity and an upgraded Super Shower. There’s a an open-plan kitchen, dining and family room are nestled in the heart of the home. Cook up a storm in the beautifully-crafted kitchen with a walk-in pantry and a center island, or step out to the covered patio and admire the picturesque and large lot; does it get any better than this? The long list of quality features includes tile-plank flooring throughout and three-car garage..

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
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
 

$356,454$435,666$396,060

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,461
Property Tax -$908
Property Insurance -$188
HOA -$29
Property Management Fees -$99
CASH FLOW
-$475

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.

$396,060

PROJECTED PRICE

$2,210

PROJECTED RENT

0.56%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$106,956

INVESTMENT

$106,956

Down Payment
$99,015
Rehab Estimate
$2,000
Closing Costs
$5,941

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,461

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,015
Loan Amount $297,045
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,229

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2104$2,2955$2,500
$2,500
RENT COMPS ANALYSIS
  • 216 Sequoia Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.79
    •  
  • 1517 Fairfield Drive Forney, TX 1
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2004
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 108 Highcreek Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 505 Clemson Lane Forney, TX 4
    • 4 beds 4 baths ∙ 2,814 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,814 Sqft ∙ Built 2016
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.82
    •  
  • 2035 Avondown Road Forney, TX 5
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461709
Last Updated: 10/30/2020
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