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2539 Pettus Drive Forney, TX 75126

4 Beds 3 Baths 2,236 sqft Built 2020

$283,899

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $126.97
  • 4 Days on Market
  • MLS # : 14503807
  • Updated Date : 01/21/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,236 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Amazing 2-Story Gehan Home!! This 4 Bedroom, 2.5 Bathroom home, features Upgraded Kitchen Island, Enlarged Master Bathroom Shower, 2nd Lavatory in Master Bathroom, Door to Master Commode Room, 2nd Lavatory in Secondary Bathroom, Upgraded Pocket Office, and Extended Covered Patio and is located on an Interior Home-site.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$255,509$312,289$283,899

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$986
Property Tax -$651
Property Insurance -$156
HOA -$50
Property Management Fees -$99
CASH FLOW
$258

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.

$283,899

PROJECTED PRICE

$2,200

PROJECTED RENT

0.77%

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$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$77,233

INVESTMENT

$77,233

Down Payment
$70,975
Rehab Estimate
$2,000
Closing Costs
$4,258

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$986

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,975
Loan Amount $212,924
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$37,795

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,2004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2539 Pettus Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 5424 Connally Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2017
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 2261 Tombstone Road Forney, TX 2
    • 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,074 Sqft ∙ Built 2017
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 2421 Anton Drive Forney, TX 3
    • 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
    •  
  • 2271 Tombstone Road Forney, TX 4
    • 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2018
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503807
Last Updated: 01/21/2021
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