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2415 Doncaster Drive Forney, TX 75126

4 Beds 3 Baths 2,388 sqft Built 2020

$334,945

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $140.26
  • 2 Days on Market
  • MLS # : 14485578
  • Updated Date : 12/12/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,388 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14485578 - Built by Highland Homes - March completion! ~ 2-story, 4 bed, 3 baths, game room, dining area, family room. Bay Window in Master Bedroom, extended Patio, separate shower and tub in master bath, beautiful Majestic brick exterior, upgraded front door, Silestone kitchen countertops, painted kitchen cabinets, elegant LVP flooring in all common areas.

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
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
 

$301,451$368,440$334,945

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,236
Property Tax -$768
Property Insurance -$165
HOA -$47
Property Management Fees -$99
CASH FLOW
-$65

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.

$334,945

PROJECTED PRICE

$2,250

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,760

INVESTMENT

$90,760

Down Payment
$83,736
Rehab Estimate
$2,000
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,736
Loan Amount $251,209
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,227

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,1954$2,2505$2,399
$2,399
RENT COMPS ANALYSIS
  • 2415 Doncaster Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 104 Rambling Way Forney, TX 1
    • 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 2007
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 315 Blanco Drive Forney, TX 2
    • 3 beds 2 baths ∙ 2,268 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,268 Sqft ∙ Built 2017
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 1016 Edgefield Lane Forney, TX 3
    • 4 beds 6 baths ∙ 2,401 Sqft ∙ Built 2014 4 beds 6 baths ∙ 2,401 Sqft ∙ Built 2014
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
  • 200 Shenandoah Court Forney, TX 5
    • 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2018
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $1.02
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485578
Last Updated: 12/12/2020
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