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416 Bonham Drive Forney, TX 75126

4 Beds 3 Baths 2,951 sqft Built 2020

INVESTimate

$380,879

List Price

$2,310

$2,079 - $2,541

Rent Est.

$402,818  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $129.07
  • 6 Days on Market
  • MLS # : 14418578
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,951 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14418578 - Built by UnionMain Homes - September completion! ~ Ultra-stylish home with open living areas – family room, dining room and kitchen – feature 11-foot ceilings and tile floors. Well-equipped kitchen w walk-in pantry, center island, stainless steel appliances, granite countertops. Primary bedroom features large walk-in closet and ensuite w double vanity and upgraded freestanding tub. Media room, too. Step outside through the triple sliding patio door to enjoy the outdoor living area and oversized lot

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
Crosby Elementary School Primary Regular 446 28 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Crosby Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 28
6
GreatSchools Rating

Brown Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 41
7
GreatSchools Rating

North Forney High School

  • Education Level: High
  • # of students: 1,274
  • # of teachers: 83
7
GreatSchools Rating
 

$342,791$418,967$380,879

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,405
Property Tax -$873
Property Insurance -$198
HOA -$29
Property Management Fees -$99
CASH FLOW
-$294

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.

$380,879

PROJECTED PRICE

$2,310

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,933

INVESTMENT

$102,933

Down Payment
$95,220
Rehab Estimate
$2,000
Closing Costs
$5,713

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,405

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,220
Loan Amount $285,659
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,509

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,339

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2004$2,3105$2,500
$2,500
RENT COMPS ANALYSIS
  • 416 Bonham Drive Forney, TX 4
    • 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.78
    •  
  • 1517 Fairfield Drive Forney, TX 1
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 2004
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 108 Highcreek Drive Forney, TX 2
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 2005
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 100 Acadia Lane Forney, TX 3
    • 5 beds 5 baths ∙ 2,786 Sqft ∙ Built 2017 5 beds 5 baths ∙ 2,786 Sqft ∙ Built 2017
    LEASED 04/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 2035 Avondown Road Forney, TX 5
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2017
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418578
Last Updated: 08/22/2020
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