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501 Ardsley Lane Forney, TX 75126

3 Beds 2 Baths 1,972 sqft Built 2020

$292,400

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $148.28
  • 7 Days on Market
  • MLS # : 14482684
  • Updated Date : 12/07/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,972 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

This BEAUTIFUL, new construction HEISMAN floor plan by Trophy Signature Homes features a massive kitchen island which will be the place your guests flock. You will enjoy working in the large kitchen with tons of counter space while your friends and family enjoy the gorgeous fireplace, working in the built in home management center or enjoying a meal. The home management center features side by side built in desks with storage as well as built in mud cubbies, the perfect place to drop your briefcase or back pack. The owners bath boasts a garden tub and walk in shower. You'll love the front porch as well. NO MUD or PID and a tax rate of 2.59% is sure to please.

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
North Elementary School Primary Regular 840 44 6
Brewer Middle School Middle Regular 986 55 6
Brewer Middle School High Regular 986 55 6

North Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 44
6
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer Middle School

  • Education Level: High
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating
 

$263,160$321,640$292,400

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,079
Property Tax -$670
Property Insurance -$141
HOA -$35
Property Management Fees -$99
CASH FLOW
-$124

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.

$292,400

PROJECTED PRICE

$1,900

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,486

INVESTMENT

$79,486

Down Payment
$73,100
Rehab Estimate
$2,000
Closing Costs
$4,386

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,079

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,100
Loan Amount $219,300
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,933

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,7904$1,9005$2,050
$2,050
RENT COMPS ANALYSIS
  • 501 Ardsley Lane Forney, TX 4
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 773 River Hill Lane Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 2016
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 121 Wilson Cliff Drive White Settlement, TX 2
    • 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,643 Sqft ∙ Built 2020
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 8425 Whitney Drive White Settlement, TX 3
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.00
    •  
  • 145 Wilson Cliff Drive White Settlement, TX 5
    • 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 2019
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.01
    •  
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 #: 14482684
Last Updated: 12/07/2020
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