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2915 Panhandle Drive Forney, TX 75126

3 Beds 2 Baths 1,669 sqft Built 2019

$240,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $143.80
  • 4 Days on Market
  • MLS # : 14494321
  • Updated Date : 01/28/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,669 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Spacious single story home with large walk in closet in the master bedroom, separate tub and shower in the master bathroom. Brand new Premium Vinyl Flooring and lots of upgrades throughout. The front yard is landscaped and has tons of curb appeal. Our HOA resort style amenities 3 pools, 2 splash parks, 6000SF workout facility, lake, walking trail, baseball, basketball and soccer court. over 400 acres of parks, picnic areas, pools and trails, Heartland has something for every age. A 35-acre stocked lake sits at the heart of the community with picturesque views, complete with a trail system and bridges that connect homes to the vast amenities. 11,000 square foot state of the art master amenity center.

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
Barbara Walker Elementary School Primary Regular 585 33 4
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Barbara Walker Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 33
4
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$834
Property Tax -$550
Property Insurance -$124
HOA -$42
Property Management Fees -$99
CASH FLOW
-$8

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.

$240,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.68%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,636

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,5994$1,6405$1,650
$1,650
RENT COMPS ANALYSIS
  • 2915 Panhandle Drive Forney, TX 4
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.98
    •  
  • 2007 Stonewood Heartland, TX 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 2009 Woodhurst Trail Heartland, TX 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.95
    •  
  • 2036 Times Road Heartland, TX 3
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.98
    •  
  • 2009 Kings Forest Drive Heartland, TX 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2007
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
David Whiteman
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494321
Last Updated: 01/28/2021
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