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3059 Chillingham Drive Forney, TX 75126

5 Beds 3 Baths 2,700 sqft Built 2020

$308,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $114.41
  • 3 Days on Market
  • MLS # : 14527438
  • Updated Date : 03/05/2021 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Driftwood is our most spacious plan in the community of Windmill Farms. With 5 bedrooms, 2.5 baths, and an open floor plan, this home has plenty of space for any lifestyle. The master bedroom is located on the main floor and includes an impressively sized walk-in closet. The second floor has an impressive open gameroom along with the remaining 3 bedrooms. This home comes fully stocked with thousands of dollars in upgrades including energy-efficient kitchen appliances, granite countertops, stunning 36” upper wood cabinets, brushed nickel hardware and an attached two-car garage, complete with a door opener installed.

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
 

$278,010$339,790$308,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,073
Property Tax -$708
Property Insurance -$183
HOA -$41
Property Management Fees -$99
CASH FLOW
$286

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.

$308,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.77%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,859

INVESTMENT

$83,859

Down Payment
$77,225
Rehab Estimate
$2,000
Closing Costs
$4,634

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,225
Loan Amount $231,675
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$41,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,342

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,199
1$2,1992$2,2503$2,2504$2,3005$2,390
$2,390
RENT COMPS ANALYSIS
  • 3059 Chillingham Drive Forney, TX 5
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.89
    •  
  • 109 Southwestern Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2005
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.83
    •  
  • 110 Cherrytree Trail Forney, TX 2
    • 4 beds 2 baths ∙ 2,510 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,510 Sqft ∙ Built 2004
    property image
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 202 Pinewood Trail Forney, TX 3
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2002
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.87
    •  
  • 2714 Pease Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2019
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
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 #: 14527438
Last Updated: 03/05/2021
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