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4606 Shivers Lane Forney, TX 75126

3 Beds 3 Baths 2,262 sqft Built 2020

$354,144

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $156.56
  • 3 Days on Market
  • MLS # : 14467190
  • Updated Date : 11/06/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14467190 - Built by Highland Homes - January completion! ~ Spacious one story brick home with 11' ceilings located. This open concept floor plan has a study and entertainment room. Kitchen features subway tile backsplash and beautiful granite island. Master suite showcases a large shower, walk in closet, dual sinks and vanity with knee space.

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
Lewis Elementary School Primary Regular 472 27 7
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Lewis Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 27
7
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
 

$318,730$389,558$354,144

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,307
Property Tax -$812
Property Insurance -$158
HOA -$50
Property Management Fees -$99
CASH FLOW
-$495

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.

$354,144

PROJECTED PRICE

$1,930

PROJECTED RENT

0.54%

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$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,848

INVESTMENT

$95,848

Down Payment
$88,536
Rehab Estimate
$2,000
Closing Costs
$5,312

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,307

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,536
Loan Amount $265,608
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$30

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,951

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,9304$1,9505$2,150
$2,150
RENT COMPS ANALYSIS
  • 4606 Shivers Lane Forney, TX 3
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.85
    •  
  • 2046 Dripping Springs Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 2010
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
  • 2141 Rains County Road Forney, TX 2
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2012
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 5424 Connally Drive Forney, TX 4
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2017
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 2119 Rains County Road Forney, TX 5
    • 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 2007
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467190
Last Updated: 11/06/2020
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