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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $119.30
- 3 Days on Market
- MLS # : 14504487
- Updated Date : 01/23/2021 at 16:21
CONSTRUCTION
- Beds : 4
- Floor Size : 2,388 sqft
- Baths : 2 full , 1 half
Listing Agent
Kile Properties
Listing Agent's Description
Beautiful 2 story home that features 4 bedrooms, 2.1 bathrooms, & large backyard. You'll love the updated kitchen with granite counter-tops, subway tile backsplash, island & gas cooktop. Spacious living area with built in cabinets & wood burning fireplace. Large master bedroom with recently updated bathroom & walk-in closet. Upstairs you'll find 3 guest rooms & a work area in between them. One of the guest rooms is oversized with a large walk-in closet that could also be a great game room. Large backyard with covered back patio, storage shed, garden, firepit & sitting area. Recent updates include roof, HVAC, solar screens, water heater, and kitchen & master bath remodel. Transferrable foundation warranty
SEE MORE
- 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
Neighborhood: Trails of Chestnut Meadow
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Trails of Chestnut Meadow
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,150 |
| EXPENSES | Loan Payment | -$990 |
| Property Tax | -$653 | |
| Property Insurance | -$165 | |
| HOA | -$37 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$207
|
||
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.
$284,900
PROJECTED PRICE
$2,150
PROJECTED RENT
0.75%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 5.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$81,249
LOAN DETAILS
$990
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $71,225 |
| Loan Amount | $213,675 |
7.67
YEARS SAVED
$28,630
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,150
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$2,149
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
307 Pinewood Trail Forney, TX 1
- 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,388 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $2,150
- $0.90
-
2434 Anton Drive Forney, TX 2
- 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019
LEASED 05/14/20- Rent
- Rent Per SQFT
- $2,200
- $0.94
-
502 Elm Grove Trail Forney, TX 3
- 4 beds 2 baths ∙ 2,517 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,517 Sqft ∙ Built 2009
LEASED 06/07/20- Rent
- Rent Per SQFT
- $2,250
- $0.89
-
110 Cherrytree Trail Forney, TX 4
- 4 beds 2 baths ∙ 2,510 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,510 Sqft ∙ Built 2004
LEASED 09/13/20- Rent
- Rent Per SQFT
- $2,250
- $0.90
-
202 Pinewood Trail Forney, TX 5
- 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2002
LEASED 09/28/20- Rent
- Rent Per SQFT
- $2,250
- $0.87
PROPERTY LISTING DETAILS
Kile Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14504487
Last Updated: 01/23/2021
