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307 Pinewood Trail Forney, TX 75126

4 Beds 3 Baths 2,388 sqft Built 2002

$284,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
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

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

Neighborhood: Trails of Chestnut Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Trails of Chestnut Meadow

NeighborhoodNIR 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
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

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
$2,150
1$2,1502$2,2003$2,2504$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 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
Shannon Runyan
Kile Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504487
Last Updated: 01/23/2021
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