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2323 Julia Lane Forney, TX 75126

5 Beds 4 Baths 2,343 sqft Built 2018

$269,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $115.19
  • 4 Days on Market
  • MLS # : 14463634
  • Updated Date : 11/05/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,343 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exclusive Realty Group, Inc.

Listing Agent's Description

You have found the one with this 5 bedroom home in fabulous Travis Ranch! Working from home? No problem there is a study tucked away just for that! The living area is spacious with recently updated laminate flooring. The kitchen with abundant upgraded cabinets is perfect for the cook! The downstairs master bedroom offers a nice place to relax at the end of the day! The remaining bedrooms are upstairs and offer so much flexibility as well for use. Enjoy the community pool or playing roller hockey on the community sport court! Recent updates include interior paint, laminate flooring downstairs, decorative light fixtures, and toilet in half bath.

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
Lewis Elementary School Primary Regular 472 27 7
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Lewis Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 27
7
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
 

$242,910$296,890$269,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$996
Property Tax -$688
Property Insurance -$163
HOA -$30
Property Management Fees -$99
CASH FLOW
$285

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.

$269,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.84%

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$40,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,197

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1453$2,1504$2,2005$2,260
$2,260
RENT COMPS ANALYSIS
  • 2323 Julia Lane Forney, TX 5
    • 5 beds 4 baths ∙ 2,343 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,343 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.96
    •  
  • 2221 Vance Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2018
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 1638 Luckenbach Drive Forney, TX 2
    • 4 beds 2 baths ∙ 2,318 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,318 Sqft ∙ Built 2020
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.93
    •  
  • 5097 Cathy Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
  • 2421 Anton Drive Forney, TX 4
    • 5 beds 2 baths ∙ 2,250 Sqft ∙ Built 2019 5 beds 2 baths ∙ 2,250 Sqft ∙ Built 2019
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
Julie Dailey
Exclusive Realty Group, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463634
Last Updated: 11/05/2020
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