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2724 Pease Drive Forney, TX 75126

3 Beds 3 Baths 1,937 sqft Built 2019

$290,800

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $150.13
  • 6 Days on Market
  • MLS # : 14529284
  • Updated Date : 03/09/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,937 sqft
  • Baths : 2 full , 1 half
Listing Agent

Front Door Realty

Listing Agent's Description

This barely used Horton Home is an amazing 2 story floor plan with 3 Beds and 2.5 baths all on lower floor with a large game room up! This open concept plan has a large open kitchen with granite countertops. The bedrooms are split for privacy and the game room is perfect for entertaining! Patio has been extended also! This is a fantastic home in the highly sought after Clements Ranch community! This community has all the amenities a person could want or need and then some! This beautiful country setting, work out facilities, pool, grills, playground and fishing ponds with a dock! Forney ISD and all the shopping and convenience to several highways surround this growing community!

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
Claybon Elementary School Primary Regular 520 31 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Claybon Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 31
8
GreatSchools Rating

Warren Middle School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 39
9
GreatSchools Rating

Forney High School

  • Education Level: High
  • # of students: 1,402
  • # of teachers: 88
8
GreatSchools Rating
 

$261,720$319,880$290,800

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,010
Property Tax -$666
Property Insurance -$139
HOA -$50
Property Management Fees -$99
CASH FLOW
-$214

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$290,800

PROJECTED PRICE

$1,750

PROJECTED RENT

0.60%

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) 8.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$82,812

INVESTMENT

$82,812

Down Payment
$72,700
Rehab Estimate
$5,750
Closing Costs
$4,362

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,010

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,700
Loan Amount $218,100
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,699
1$1,6992$1,7503$1,7654$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 2724 Pease Drive Forney, TX 2
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 211 Windsor Forney, TX 1
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2001
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.88
    •  
  • 305 Caladium Drive Forney, TX 3
    • 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2019
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,765
    • $0.92
    •  
  • 126 Beacon Hill Lane Forney, TX 4
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 2005
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.95
    •  
  • 301 Stanford Forney, TX 5
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2005
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Amy Greenberg
Front Door Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529284
Last Updated: 03/09/2021
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