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2406 Neff Lane Forney, TX 75126

3 Beds 3 Baths 1,883 sqft Built 2020

$287,020

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $152.43
  • 18 Days on Market
  • MLS # : 14508216
  • Updated Date : 02/12/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,883 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

Great 1.5 story plan with open family room to kitchen! Gameroom and half bath up. PLEASE SEE SHOWING INSTRUCTIONS... PLAN 1883

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
 

$258,318$315,722$287,020

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$997
Property Tax -$658
Property Insurance -$136
HOA -$50
Property Management Fees -$99
CASH FLOW
-$80

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.

$287,020

PROJECTED PRICE

$1,860

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,060

INVESTMENT

$78,060

Down Payment
$71,755
Rehab Estimate
$2,000
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,755
Loan Amount $215,265
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,883

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,8503$1,8604$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2406 Neff Lane Forney, TX 3
    • 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,883 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.99
    •  
  • 5632 Mcclelland Street Forney, TX 1
    • 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.95
    •  
  • 2436 San Marcos Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2019
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
  • 5281 Canfield Lane Forney, TX 4
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2018
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.06
    •  
  • 5642 Durst Drive Forney, TX 5
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2019
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Derek Phelps
Jeanette Anderson Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508216
Last Updated: 02/12/2021
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