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2214 Heaton Street Forney, TX 75126

3 Beds 2 Baths 1,423 sqft Built 2018

$224,990

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $158.11
  • 4 Days on Market
  • MLS # : 14498257
  • Updated Date : 01/14/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,423 sqft
  • Baths : 2 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

No showings until Friday Jan 15. Welcome home! This home is ready for YOU! The perfect cozy home for you to relax after a long day. Enjoy the open layout where the kitchen flows into the living room. Nice size back yard is ready for spring time cook outs and get togethers. Nestled in the beautiful and established Devonshire community, this home is very close to the amenities the neighborhood offers. Come fall in love and make this house your forever home.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$202,491$247,489$224,990

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$781
Property Tax -$516
Property Insurance -$109
HOA -$60
Property Management Fees -$99
CASH FLOW
-$35

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.

$224,990

PROJECTED PRICE

$1,530

PROJECTED RENT

0.68%

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) 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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,372

INVESTMENT

$65,372

Down Payment
$56,248
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,248
Loan Amount $168,743
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$6,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,5753$1,6504$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 2214 Heaton Street Forney, TX 1
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.08
    •  
  • 118 Robin Lane Forney, TX 2
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.98
    •  
  • 154 Wandering Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2003
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 144 Landsdale Forney, TX 4
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.00
    •  
  • 2105 Cardinal Drive Forney, TX 5
    • 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2006
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
PROPERTY LISTING DETAILS
Joey Stanbery
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498257
Last Updated: 01/14/2021
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