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249 Pennridge Drive 
Forney, TX
75126
4 Beds 2 Baths 2,064 sqft
Built 2020
INVESTimate
$292,315
List Price
$79,463
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PROPERTY INFO
FACTS
- Built In 2020
- Price/Sqft : $141.63
- 3 Days on Market
- MLS # : 14419762
- Updated Date : 08/25/2020 at 15:57
CONSTRUCTION
- Beds : 4
- Floor Size : 2,064 sqft
- Baths : 2 full
Listing Agent
Homesusa.com
Listing Agent's Description
MLS# 14419762 - Built by Altura Homes - December completion! ~ This home features a beautiful brick and stone elevation with a front porch.. The home has a large open family room and kitchen. The kitchen features granite countertops, 42 white raised panel cabinets, kitchen island and stainless steel appliances. The master bedroom is large and the master bath has a separate garden tub and oversized shower. The home also has a formal dining area, great for those family get togethers. The home has gorgeous vinyl plank flooring, ceramic tile and carpeted bedrooms. This plan is very popular and suits any lifestyle.
SEE MORE
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75126
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,920 |
| EXPENSES | Loan Payment | -$1,079 |
| Property Tax | -$670 | |
| Property Insurance | -$146 | |
| HOA | -$20 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$94
|
||
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.
$292,315
PROJECTED PRICE
$1,920
PROJECTED RENT
0.66%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 5.76% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,463
LOAN DETAILS
$1,079
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $73,079 |
| Loan Amount | $219,236 |
3
YEARS SAVED
$8,303
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,920
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,920
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
249 Pennridge Drive Forney, TX 3
- 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2020
![property image]()
- Rent
- Rent Per SQFT
- $1,920
- $0.93
-
2203 Woodberry Drive Forney, TX 1
- 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2006
![property image]()
LEASED 03/14/20- Rent
- Rent Per SQFT
- $1,795
- $0.87
-
2113 Thistle Lane Forney, TX 2
- 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2007
![property image]()
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,850
- $0.97
-
2302 Sparrow Drive Forney, TX 4
- 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2019
![property image]()
LEASED 04/07/20- Rent
- Rent Per SQFT
- $2,000
- $0.94
-
268 Van Buren Drive Forney, TX 5
- 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2017
![property image]()
LEASED 05/28/20- Rent
- Rent Per SQFT
- $2,095
- $0.94
PROPERTY LISTING DETAILS
Homesusa.com
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14419762
Last Updated: 08/25/2020
