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2750 Tanner Street Forney, TX 75126

4 Beds 3 Baths 2,150 sqft Built 2018

$245,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $113.95
  • 2 Days on Market
  • MLS # : 14470993
  • Updated Date : 11/14/2020 at 19:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,150 sqft
  • Baths : 2 full , 1 half
Listing Agent

Goldman Briggs

Listing Agent's Description

DON'T MISS THIS ONE!! .. Beautiful home located in a quiet neighborhood. Just two years with the first owners. It is equipped with security camera systems. Nice community pool and playground. You'll love the space and peace of this area. MULTIPLE OFFERS. Submit your highest and best offer by Sunday, November 15th 10 pm.

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
Johnson Elementary School Primary Regular 513 31 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Johnson Elementary School

  • Education Level: Primary
  • # of students: 513
  • # 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$904
Property Tax -$568
Property Insurance -$151
HOA -$33
Property Management Fees -$99
CASH FLOW
$84

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.

$245,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.75%

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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$19,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,833

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,7954$1,8355$1,840
$1,840
RENT COMPS ANALYSIS
  • 2750 Tanner Street Forney, TX 5
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.86
    •  
  • 2024 Allyson Drive Heartland, TX 1
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2009
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 2036 Pine Knot Drive Heartland, TX 2
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2009
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
  • 4017 Eric Drive Heartland, TX 3
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 2009 Robincreek Cove Heartland, TX 4
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.87
    •  
PROPERTY LISTING DETAILS
Adriana Turriago Parra
Goldman Briggs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470993
Last Updated: 11/14/2020
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