Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3051 Chico Drive Forney, TX 75126

3 Beds 2 Baths 1,683 sqft Built 2021

$264,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $157.40
  • 4 Days on Market
  • MLS # : 14512803
  • Updated Date : 02/05/2021 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,683 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

Now introducing our most spacious single story home in the community of Windmill Farms, the Sabine! This new home is perfect for any lifestyle, featuring 3 bedrooms, 2 full baths, a large living area and a study. The Sabine comes with thousands of dollars of upgrades included such as granite countertops, stunning wood cabinets, brushed nickel hardware, energy-efficient kitchen appliances, and an attached two-car garage complete with a door opener. You will also enjoy the large covered patio and fully fenced backyard which allow you to enjoy your very own outdoor oasis.

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
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
7
GreatSchools Rating

North Forney High School

  • Education Level: High
  • # of students: 1,274
  • # of teachers: 83
7
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$920
Property Tax -$607
Property Insurance -$124
HOA -$41
Property Management Fees -$99
CASH FLOW
-$162

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.

$264,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,199

INVESTMENT

$72,199

Down Payment
$66,225
Rehab Estimate
$2,000
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,645

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6303$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 3051 Chico Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.97
    •  
  • 2112 Chisolm Trail Forney, TX 1
    • 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.99
    •  
  • 2211 Sumac Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 2115 Rose May Drive Forney, TX 4
    • 4 beds 2 baths ∙ 1,743 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,743 Sqft ∙ Built 2004
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 4665 Elderberry Street Forney, TX 5
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2016
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
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 #: 14512803
Last Updated: 02/05/2021
BESbswy