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2207 Oldham Street Forney, TX 75126

4 Beds 4 Baths 3,063 sqft Built 2020

$369,990

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $120.79
  • 3 Days on Market
  • MLS # : 14508951
  • Updated Date : 01/29/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,063 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Proadvantage

Listing Agent's Description

*BY APPOINTMENT ONLY* Beautiful 4 bedroom 3.5 bath, 3063 Sq. Ft. Home. Our most popular plan in Devonshire. This home has engineered hardwood floors in the main living space downstairs, along with a beautiful designed kitchen with quartz counter-tops, upgrade cabinets and, built-in stainless steel appliances. This home feature an office on the main floor along with a formal dining room, breakfast nook, and an extended primary suite. Upstairs this home has the extra-large suite added upstairs and Media Room. This home is truly made for entertaining.

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
 

$332,991$406,989$369,990

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,285
Property Tax -$848
Property Insurance -$204
HOA -$47
Property Management Fees -$99
CASH FLOW
-$293

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.

$369,990

PROJECTED PRICE

$2,190

PROJECTED RENT

0.59%

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-$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$100,047

INVESTMENT

$100,047

Down Payment
$92,498
Rehab Estimate
$2,000
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,498
Loan Amount $277,493
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,427

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1903$2,2004$2,2955$2,790
$2,790
RENT COMPS ANALYSIS
  • 2207 Oldham Street Forney, TX 2
    • 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.71
    •  
  • 1517 Fairfield Drive Forney, TX 1
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2004
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 2014 Rosebury Lane Forney, TX 3
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2017
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 505 Clemson Lane Forney, TX 4
    • 4 beds 4 baths ∙ 2,814 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,814 Sqft ∙ Built 2016
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.82
    •  
  • 1009 Knoxbridge Drive Forney, TX 5
    • 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,408 Sqft ∙ Built 2009
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ginger Weeks
Re/max Proadvantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508951
Last Updated: 01/29/2021
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