Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3117 Marble Falls Drive Forney, TX 75126

3 Beds 2 Baths 2,100 sqft Built 2013

$255,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $121.43
  • 2 Days on Market
  • MLS # : 14475413
  • Updated Date : 11/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Wonderfully maintained 1 owner home is move in ready... Featuring 3 bdrms & 2 baths with open floorplan. You'll enjoy entertaining in the lovely chef like kitchen w SS appliances and gas range. Separate master suite with wall of windows allowing for tons of natural light and master bath that includes dual vanities, garden tub, separate shower and walk in closet. This home is pet free and has an elementary school right around the corner and located close to major freeway.

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: 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$941
Property Tax -$584
Property Insurance -$149
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 14% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.73%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8504$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 3117 Marble Falls Drive Forney, TX 4
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 3005 Flowering Springs Drive Forney, TX 1
    • 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2012
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.84
    •  
  • 3026 Marble Falls Drive Forney, TX 2
    • 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 2012
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 3109 Clear Springs Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 2016
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
  • 3128 Marble Falls Drive Forney, TX 5
    • 4 beds 2 baths ∙ 2,169 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,169 Sqft ∙ Built 2015
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kelly Wassermann
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475413
Last Updated: 11/21/2020
BESbswy