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407 River Birch Trail Forney, TX 75126

4 Beds 3 Baths 3,352 sqft Built 2007

$439,900

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $131.24
  • 4 Days on Market
  • MLS # : 14521858
  • Updated Date : 02/24/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,352 sqft
  • Baths : 2 full , 1 half
Listing Agent

Graves & Assoc. Real Estate

Listing Agent's Description

Gorgeous house with great floorplan, large open space off kitchen. Master bedroom is separate from other bedrooms. Large closets. Three car garage. Covered patio. Has a study off the spare bedrooms that could be used for kid study area. Great curb appearance.

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: Trails of Chestnut Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Trails of Chestnut Meadow

NeighborhoodNIR 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
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
 

$395,910$483,890$439,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,528
Property Tax -$1,008
Property Insurance -$221
HOA -$37
Property Management Fees -$99
CASH FLOW
-$282

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.

$439,900

PROJECTED PRICE

$2,610

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,083

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,732

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6103$2,7254$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 407 River Birch Trail Forney, TX 2
    • 4 beds 3 baths ∙ 3,352 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,352 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.78
    •  
  • 914 Dancing Waters Forney, TX 1
    • 4 beds 4 baths ∙ 3,483 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,483 Sqft ∙ Built 2005
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.75
    •  
  • 1024 Lufkin Lane Forney, TX 3
    • 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.82
    •  
  • 1104 Glendon Drive Forney, TX 4
    • 5 beds 4 baths ∙ 3,454 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,454 Sqft ∙ Built 2011
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.87
    •  
  • 239 Hound Hollow Road Forney, TX 5
    • 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Dale Graves
Graves & Assoc. Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521858
Last Updated: 02/24/2021
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