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3110 Chillingham Drive Forney, TX 75126

4 Beds 3 Baths 2,153 sqft Built 2020

INVESTimate

$272,900

List Price

$1,960

$1,764 - $2,156

Rent Est.

$288,619  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $126.75
  • 7 Days on Market
  • MLS # : 14417887
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,153 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Cypress is a gorgeous, two-story home featuring an open floor plan, 4 bedrooms and 2.5 baths. The Cypress showcases a master suite on the main floor complete with an in-suite bathroom with double sinks and a garden tub. This new home comes with thousands of dollars in upgrades already included such as granite countertops, 36” upper wood cabinets, energy-efficient kitchen appliances, a fully fenced backyard, and an attached two-car garage. In addition, Windmill Farms is conveniently located right off US-80 with quick access to all of the amenities Dallas has to offer.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$245,610$300,190$272,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,007
Property Tax -$625
Property Insurance -$152
HOA -$41
Property Management Fees -$99
CASH FLOW
$36

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.

$272,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,319

INVESTMENT

$74,319

Down Payment
$68,225
Rehab Estimate
$2,000
Closing Costs
$4,094

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,225
Loan Amount $204,675
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,943

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9003$1,9004$1,9505$1,960
$1,960
RENT COMPS ANALYSIS
  • 3110 Chillingham Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.91
    •  
  • 8960 Black Haw Street Forney, TX 1
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2017
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 9440 Smoke Tree Drive Forney, TX 2
    • 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2017
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 5200 Prairie Rose Drive Forney, TX 3
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2017
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 5150 Meadowdale Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2016
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
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 #: 14417887
Last Updated: 08/21/2020
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