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404 Tomball Trail Forney, TX 75126

3 Beds 2 Baths 2,277 sqft Built 2010

$279,800

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $122.88
  • 3 Days on Market
  • MLS # : 14461942
  • Updated Date : 11/02/2020 at 21:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,277 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

STUDY is a great flex space! Stately curb appeal with exquisite landscaping and a brick and stone elevation. Upgrades galore with granite, light fixtures, crown molding, recent hardwood flooring, new carpet in kid's rooms and hall, and so much more! A HUGE kitchen that is a cooks dream: tons of cabinets and counter space, large center island, breakfast bar, 5 burner gas cook top, walk-in pantry and an open design! The large master suite is split for privacy and offers a nice walk-in closet, separate sinks, jacuzzi tub, and separate shower. The living room is graced with rich hardwoods and a gas log FP. Great covered patio overlooks the HUGE rear yard with a handy shed. Extra work area in the oversized garage

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
Rhea Elementary School Primary Regular 709 42 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Rhea Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 42
8
GreatSchools Rating

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
 

$251,820$307,780$279,800

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,032
Property Tax -$641
Property Insurance -$159
HOA -$21
Property Management Fees -$99
CASH FLOW
$88

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.

$279,800

PROJECTED PRICE

$2,040

PROJECTED RENT

0.73%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,897

INVESTMENT

$79,897

Down Payment
$69,950
Rehab Estimate
$5,750
Closing Costs
$4,197

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,032

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,950
Loan Amount $209,850
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$22,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0403$2,2004$2,2755$2,300
$2,300
RENT COMPS ANALYSIS
  • 404 Tomball Trail Forney, TX 2
    • 3 beds 2 baths ∙ 2,277 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,277 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.90
    •  
  • 1046 Dancing Waters Forney, TX 1
    • 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2006
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.92
    •  
  • 2434 Anton Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 1029 Dancing Waters Forney, TX 4
    • 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 2009
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.96
    •  
  • 309 Westlake Forney, TX 5
    • 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 2007
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
PROPERTY LISTING DETAILS
Susan Lucky Smith
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461942
Last Updated: 11/02/2020
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