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3112 Holstein Drive Forney, TX 75126

3 Beds 2 Baths 1,683 sqft Built 2020

$252,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $150.27
  • 4 Days on Market
  • MLS # : 14466198
  • Updated Date : 11/05/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,683 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

Now introducing our most spacious single story home in the community of Windmill Farms, the Sabine! This new home is perfect for any lifestyle, featuring 3 bedrooms, 2 full baths, a large living area and a study. The Sabine comes with thousands of dollars of upgrades included such as granite countertops, stunning wood cabinets, brushed nickel hardware, energy-efficient kitchen appliances, and an attached two-car garage complete with a door opener. You will also enjoy the large covered patio and fully fenced backyard which allow you to enjoy your very own outdoor oasis.

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
 

$227,610$278,190$252,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$933
Property Tax -$580
Property Insurance -$124
HOA -$41
Property Management Fees -$99
CASH FLOW
-$137

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.

$252,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,019

INVESTMENT

$69,019

Down Payment
$63,225
Rehab Estimate
$2,000
Closing Costs
$3,794

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,225
Loan Amount $189,675
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$3,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 3112 Holstein Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 4050 Elderberry Street Forney, TX 1
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2016
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 2211 Sumac Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 2115 Rose May Drive Forney, TX 4
    • 4 beds 2 baths ∙ 1,743 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,743 Sqft ∙ Built 2004
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 4665 Elderberry Street Forney, TX 5
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2016
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
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 #: 14466198
Last Updated: 11/05/2020
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