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2494 San Marcos Drive Forney, TX 75126

5 Beds 2 Baths 1,829 sqft Built 2020

INVESTimate

$268,745

List Price

$1,790

$1,611 - $1,969

Rent Est.

$284,225  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $146.94
  • 7 Days on Market
  • MLS # : 14417828
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,829 sqft
  • Baths : 2 full
Listing Agent

Jeanette Anderson Real Estate

Listing Agent's Description

Open kitchen family, wood-look tile, fireplace, seperate shower and garden tub, casual dining, and extended covered patio. PLEASE SEE SHOWING INSTRUCTIONS... PLAN 1829

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
 

$241,871$295,620$268,745

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$992
Property Tax -$616
Property Insurance -$133
HOA -$50
Property Management Fees -$99
CASH FLOW
-$99

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.

$268,745

PROJECTED PRICE

$1,790

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,217

INVESTMENT

$73,217

Down Payment
$67,186
Rehab Estimate
$2,000
Closing Costs
$4,031

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,186
Loan Amount $201,559
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5993$1,6494$1,7905$1,950
$1,950
RENT COMPS ANALYSIS
  • 2494 San Marcos Drive Forney, TX 4
    • 5 beds 2 baths ∙ 1,829 Sqft ∙ Built 2020 5 beds 2 baths ∙ 1,829 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.98
    •  
  • 5693 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 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.89
    •  
  • 5632 Mcclelland Street Forney, TX 2
    • 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
    •  
  • 5704 Mcclelland Street Forney, TX 3
    • 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,685 Sqft ∙ Built 2019
    property image
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.98
    •  
  • 5632 Durst Lane Forney, TX 5
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2019
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
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 #: 14417828
Last Updated: 08/21/2020
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