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3105 Granite Rock Trail Forney, TX 75126

3 Beds 2 Baths 1,588 sqft Built 2015

$229,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $144.21
  • 3 Days on Market
  • MLS # : 14492987
  • Updated Date : 01/02/2021 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,588 sqft
  • Baths : 2 full
Listing Agent

Kile Properties

Listing Agent's Description

Beautiful home in Forney with a large covered patio! You'll love the layout of this home & large backyard. Enjoy the spacious kitchen overlooking the living area. Kitchen features granite countertops, stainless steel appliance with gas range, abundance of cabinet space, & walk-in pantry. Cozy fireplace with gas logs & large windows for natural lighting. Wonderful master bedroom off the living are with a garden tub, separate shower, dual sinks, and walk-in closet. Plantation shutters throughout the home. Enjoy the extended patio and patio cover for all your family gatherings, cookouts, or relaxation throughout the day. Community offers 2 pools, ponds, parks, & schools. Close to shopping & Dining.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Heather Hollow-Windmill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $115k250k

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

Neighborhood: Heather Hollow-Windmill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262057

* 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
Blackburn Elementary School Primary Regular 619 38 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Blackburn Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 38
6
GreatSchools Rating

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
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$845
Property Tax -$525
Property Insurance -$119
HOA -$41
Property Management Fees -$99
CASH FLOW
$61

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$229,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$16,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,536

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6903$1,6954$1,6955$1,745
$1,745
RENT COMPS ANALYSIS
  • 3105 Granite Rock Trail Forney, TX 2
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.06
    •  
  • 1107 Alexandria Drive Forney, TX 1
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2003
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.93
    •  
  • 3103 Persimmons Way Forney, TX 3
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2015
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 3109 Flowering Springs Forney, TX 4
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2013
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 3105 Clear Springs Drive Forney, TX 5
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2016
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.00
    •  
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 #: 14492987
Last Updated: 01/02/2021
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