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4402 Thalia Way Forney, TX 75126

4 Beds 3 Baths 2,466 sqft Built 2021

INVESTimate

$289,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$305,646  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $117.19
  • 3 Days on Market
  • MLS # : 14419563
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,466 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jagjit Singh

Listing Agent's Description

Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. contract and MEGA sale addendum must be signed between July 23rd through August 31st, 2020. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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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
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
 

$260,100$317,900$289,000

PURCHASE PRICE

$2,196$2,684$2,440

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,066
Property Tax -$662
Property Insurance -$170
HOA -$41
Property Management Fees -$99
CASH FLOW
$402

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.

$289,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.84%

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$78,585

INVESTMENT

$78,585

Down Payment
$72,250
Rehab Estimate
$2,000
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$63,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,423

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3004$2,4405$2,650
$2,650
RENT COMPS ANALYSIS
  • 4402 Thalia Way Forney, TX 4
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.99
    •  
  • 2434 Anton Drive Forney, TX 1
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2019
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 1510 Wheatley Way Forney, TX 2
    • 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 2018
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 309 Westlake Forney, TX 3
    • 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 2007
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 3100 Rademaker Drive Heath, TX 5
    • 4 beds 2 baths ∙ 2,642 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,642 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419563
Last Updated: 08/25/2020
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