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404 Temple Trail Forney, TX 75126

4 Beds 3 Baths 2,952 sqft Built 2012

$352,253

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $119.33
  • 2 Days on Market
  • MLS # : 14509750
  • Updated Date : 01/30/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,952 sqft
  • Baths : 3 full
Listing Agent

Ddfw Realty

Listing Agent's Description

Immaculately maintained home with an awesome floorplan. This home has 4 good size bedrooms including a Jack and Jill connected combo and an off to its own Mother in Law suite set up. The upstairs is on the game room and is perfectly located over the oversize 3 car garage. All bedrooms and other living areas are downstairs. The Kitchen has real wood stained cabinets and granite countertops. This over a quarter acre lot has a huge backyard that is fully sprinkled with privacy fence and a great oversized split 3 car garage with 8 foot garage doors. Home also comes with receiver and sound system in the kitchen, living, and garage areas.

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

Neighborhood: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262309

* 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
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

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
 

$317,028$387,478$352,253

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,224
Property Tax -$807
Property Insurance -$198
HOA -$21
Property Management Fees -$99
CASH FLOW
$152

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.

$352,253

PROJECTED PRICE

$2,500

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,097

INVESTMENT

$99,097

Down Payment
$88,063
Rehab Estimate
$5,750
Closing Costs
$5,284

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,224

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,063
Loan Amount $264,190
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$26,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,524

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,3003$2,4004$2,5005$3,025
$3,025
RENT COMPS ANALYSIS
  • 404 Temple Trail Forney, TX 4
    • 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
  • 422 Red Oak Court Forney, TX 1
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 2005
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.79
    •  
  • 2714 Pease Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2019
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 109 Bugle Call Road Forney, TX 3
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2006
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 1026 Eagle Nest Avenue Forney, TX 5
    • 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2005
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,025
    • $0.96
    •  
PROPERTY LISTING DETAILS
Rj Avery
Ddfw Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509750
Last Updated: 01/30/2021
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