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4114 Perch Drive Forney, TX 75126

3 Beds 2 Baths 1,683 sqft Built 2019

$243,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $144.92
  • 12 Days on Market
  • MLS # : 14489856
  • Updated Date : 01/02/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,683 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

This 3-bedroom 2 bath, 1-story home includes a walk-in closet in the master bedroom, closets in the other bedrooms, granite counter tops, wood cabinets and whirlpool appliances. There is a library or study that can be used as a bedroom, a formal living room with vaulted ceiling, dinning room, a two-car garage with garage opener. For your private enjoyment, there is a spacious backyard with a covered patio, and a stone, wood privacy fence. You will also have access to community jogging trails, walking trails, playground and swimming pool. Stop by and take a look.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Claybon Elementary School Primary Regular 520 31 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Claybon Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 31
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
 

$219,510$268,290$243,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$900
Property Tax -$559
Property Insurance -$124
HOA -$41
Property Management Fees -$99
CASH FLOW
-$23

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.

$243,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.70%

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) 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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,634

INVESTMENT

$66,634

Down Payment
$60,975
Rehab Estimate
$2,000
Closing Costs
$3,659

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,975
Loan Amount $182,925
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$10,632

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,5753$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 4114 Perch Drive Forney, TX 5
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 216 Windsor Forney, TX 1
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2001
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.96
    •  
  • 212 Colgate Forney, TX 2
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.02
    •  
  • 217 S Chestnut Street Forney, TX 3
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 2002
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 220 Amherst Drive Forney, TX 4
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2006
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Paula Bradley
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489856
Last Updated: 01/02/2021
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