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222 Aspenwood Trail Forney, TX 75126

3 Beds 2 Baths 1,727 sqft Built 2002

$235,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $136.07
  • 3 Days on Market
  • MLS # : 14481195
  • Updated Date : 12/04/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,727 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Super cute 3 bed, 2 bath home in Forney, the 'Antique Capital of Texas'. This single story home has big windows, an open floor plan, and beautiful laminate floors. The kitchen has granite countertops, stainless appliances, and a pretty backsplash. A large living room with a separate space that could be a dining room, an office or whatever you need. Room to run or relax in the big backyard and many activities in the community to enjoy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
Claybon Elementary School Primary Regular 520 31 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Claybon Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 31
8
GreatSchools Rating

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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$867
Property Tax -$539
Property Insurance -$127
HOA -$30
Property Management Fees -$99
CASH FLOW
-$62

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.

$235,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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

PROJECTED ANNUAL CASH FLOW

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

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,692

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6504$1,6995$1,750
$1,750
RENT COMPS ANALYSIS
  • 222 Aspenwood Trail Forney, TX 2
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 217 S Chestnut Street Forney, TX 1
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2002
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 220 Amherst Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2006
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 211 Windsor Forney, TX 4
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2001
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.88
    •  
  • 217 Spruce Trail Forney, TX 5
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2005
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
Julia Kappel
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481195
Last Updated: 12/04/2020
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