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405 E Aimee Street Forney, TX 75126

3 Beds 2 Baths 1,734 sqft Built 2019

$290,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $167.76
  • 7 Days on Market
  • MLS # : 14466041
  • Updated Date : 11/09/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,734 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Newly constructed home, on a corner lot. The exterior of the home is all brick, with a privacy fence and deck in the backyard. Beautiful covered front porch with space for seating. There are plenty of closets and storage in the home. The mud room has a wonderful built-in hutch for storage. The kitchen is open and spacious with a Texas size island, new stainless steel appliances less than a year old. Master bedroom is spacious with a makeup vanity in the bathroom, glass enclosed shower, garden tub, lien closet, and double sink vanity. It also has a recessed ceiling and crown molding. Two car garage with a long drive for company parking. Den has a stone fireplace with a recessed ceiling and molding.

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
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
 

$261,810$319,990$290,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,073
Property Tax -$667
Property Insurance -$127
Property Management Fees -$99
CASH FLOW
-$546

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.

$290,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.49%

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$800k

PROJECTED ANNUAL CASH FLOW

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

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$79,089

INVESTMENT

$79,089

Down Payment
$72,725
Rehab Estimate
$2,000
Closing Costs
$4,364

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,725
Loan Amount $218,175
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$14

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,5753$1,5954$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 405 E Aimee Street Forney, TX 1
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.82
    •  
  • 212 Colgate Forney, TX 2
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.02
    •  
  • 128 Stanford Forney, TX 3
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2006
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 217 S Chestnut Street Forney, TX 4
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2002
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 105 Marquette Street Forney, TX 5
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1999
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Camile White
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466041
Last Updated: 11/09/2020
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