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2239 Heaton Street Forney, TX 75126

4 Beds 3 Baths 2,780 sqft Built 2017

$299,990

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $107.91
  • 4 Days on Market
  • MLS # : 14499571
  • Updated Date : 01/14/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

No showings until Friday Jan 15. Located in the highly sought after community of Devonshire, this home boasts an incredible open floor plan. Walk thru the front door into a large living room that has beautiful tray ceilings. The kitchen has very large granite island that is the perfect place for entertaining. This Pulte built home has space SPACE SPACE!! Just upstairs there is a HUGE multi purpose room that can be used as a game room, living room or even a movie room. The backyard is one of largest on the street, that backs up to an open field! Come see this beauty and make this house your 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
 

$269,991$329,989$299,990

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,042
Property Tax -$702
Property Insurance -$188
HOA -$48
Property Management Fees -$99
CASH FLOW
$270

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.

$299,990

PROJECTED PRICE

$2,350

PROJECTED RENT

0.78%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,247

INVESTMENT

$85,247

Down Payment
$74,998
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,998
Loan Amount $224,993
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$34,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,537

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,5004$2,5955$2,600
$2,600
RENT COMPS ANALYSIS
  • 2239 Heaton Street Forney, TX 1
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
  • 2035 Avondown Road Forney, TX 2
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 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 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 1005 Finsbury Park Forney, TX 4
    • 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 2010
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.95
    •  
  • 1005 Cadbury Lane Forney, TX 5
    • 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 2016
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
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 #: 14499571
Last Updated: 01/14/2021
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