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3017 Chico Drive Forney, TX 75126

3 Beds 2 Baths 1,236 sqft Built 2021

$242,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

$66,369

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.8%)
1 YR. PROJ. APPRECIATION


Cap Rate	1.9%
Cash Flow	-$4,068
Value Increase	$14,106

10 YEAR

Cash On Cash	-8.0%
Total Return	7.2%

PROPERTY INFO

Built 2021 NEW CONSTRUCTION

SINGLE-FAMILY

February 19, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2021
Price/Sqft : $196.52
3 Days on Market
MLS # : 14519715
Updated Date : 02/19/2021 at 19:00

CONSTRUCTION

Beds : 3
Floor Size : 1,236 sqft
Baths : 2 full

Listing Agent

Lgi Homes

Listing Agent's Description

The Rio Grande plan by LGI Homes is a charming 3-bedroom, 2-bath single story home featuring thousands of dollars in upgrades including granite countertops, stunning wood cabinets, brushed nickel hardware, and an attached two-car garage complete with a garage door opener. This beautiful home comes fully-loaded with a private master suite featuring a walk-in closet, as well as a fully fenced backyard, covered front patio and front yard landscaping. This exceptional home is located in the picturesque community of Windmill Farms which includes a multitude of incredible amenities.

MARKET HIGHLIGHTS

Dallas Market Report

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)

Zip Code: 75126

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75126

* 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
Brown Middle School	Middle	Regular	718	41	7
North Forney High School	High	Regular	1,274	83	7

Brown Middle School

Education Level: Middle
# of students: 718
# of teachers: 41

GreatSchools Rating

North Forney High School

Education Level: High
# of students: 1,274
# of teachers: 83

GreatSchools Rating

FINANCIALS

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$218,610$267,19000$242,900

PURCHASE PRICE

$1,170$1,43000$1,300

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,300
EXPENSES	Loan Payment	-$844
	Property Tax	-$557
	Property Insurance	-$99
	HOA	-$41
	Property Management Fees	-$99



CASH FLOW -$339

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.

$242,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$66,369

Down Payment	$60,725
Rehab Estimate	$2,000
Closing Costs	$3,644

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$844

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$60,725
Loan Amount	$182,175

See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$17

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,300
LIST RENT
$1.05
LIST RENT PER SQFT

$1,298
COMP ESTIMATED VALUE
$1.05
COMP AVG. RENT PER SQFT

Comps Range

$1,300

1$1,3002$1,4493$1,5504$1,5505$1,600

$1,600

RENT COMPS ANALYSIS

1,236
PROPERTY SQFT
$1.05
AVG RENT PER SQFT
$1,298
ESTIMATED VALUE
$1,300
LIST RENT

3017 Chico Drive Forney, TX 5

3 beds 2 baths ∙ 1,236 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 2021
Price

Price Per SQFT

$242,900

$196.52
2002 Cone Flower Drive Forney, TX 1

3 beds 2 baths ∙ 1,428 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 2003
SOLD 05/12/20
Price

Price Per SQFT

$174,900

$122.48
1117 Singletree Drive Forney, TX 2

3 beds 2 baths ∙ 1,399 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 2002
SOLD 07/22/20
Price

Price Per SQFT

$179,900

$128.59
2125 Bluebell Forney, TX 3

3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2006
SOLD 09/21/20
Price

Price Per SQFT

$195,000

$133.02
2010 Overview Drive Forney, TX 4

3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2005
SOLD 09/17/20
Price

Price Per SQFT

$199,995

$131.92

3017 Chico Drive Forney, TX 1

3 beds 2 baths ∙ 1,236 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 2021
Rent

Rent Per SQFT

$1,300

$1.05
2014 Fair Crest Trail Forney, TX 2

3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2004
LEASED 10/07/19
Rent

Rent Per SQFT

$1,449

$1.07
2027 Brook Meadow Drive Forney, TX 3

3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2006
LEASED 02/10/20
Rent

Rent Per SQFT

$1,550

$1.05
2019 Chisolm Trail Forney, TX 4

3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2006
LEASED 05/01/20
Rent

Rent Per SQFT

$1,550

$1.02
2019 Fairview Drive Forney, TX 5

3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2004
LEASED 05/28/20
Rent

Rent Per SQFT

$1,600

$1.06

PROPERTY LISTING DETAILS

Mona Hill
Lgi Homes

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519715
Last Updated: 02/19/2021

3017 Chico Drive Forney, TX 75126

$242,900

$1,300

$66,369

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Brown Middle School

North Forney High School

FINANCIALS

$218,610$267,19000$242,900

$1,170$1,43000$1,300

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$242,900

$1,300

0.54%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$844

0.08

$17

$242,900

$196.52

$159,447

$129

COMPS RANGE

PRICE COMPS ANALYSIS

$1,300

$1.05

$1,298

$1.05

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS