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511 Branch Street Forney, TX 75126

4 Beds 2 Baths 2,088 sqft Built 2010

$249,999

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $119.73
  • 2 Days on Market
  • MLS # : 14518232
  • Updated Date : 02/13/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Don't miss out on this beautifully maintained 4bd 2bth home located on a corner lot! There is plenty of room for kids and dogs to run around in the large yard this corner lot provides!! The back yard has an extended patio so there is plenty of space for a grill and patio furniture to enjoy Summer BBQs and family time outdoors. This home has been freshly painted and new carpet has been installed in the master and one of the additional bedrooms. New laminate flooring has also been installed in all the living areas and there is tile flooring in all wet areas. The master has separate shower and garden tub, dual sinks as well as dual closets.

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

Neighborhood: Mustang Creek

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $122k250k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Mustang Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262010

* 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
Criswell Elementary School Primary Regular 562 32 8
Criswell Elementary School Middle Regular 562 32 8
North Forney High School High Regular 1,274 83 7

Criswell Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

Criswell Elementary School

  • Education Level: Middle
  • # of students: 562
  • # of teachers: 32
8
GreatSchools Rating

North Forney High School

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

$224,999$274,999$249,999

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$868
Property Tax -$573
Property Insurance -$148
HOA -$21
Property Management Fees -$99
CASH FLOW
$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$249,999

PROJECTED PRICE

$1,880

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$24,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,864

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8804$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 511 Branch Street Forney, TX 3
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.90
    •  
  • 219 Long Prairie Drive Forney, TX 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2008
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 503 Trailblazer Road Forney, TX 2
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2016
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 208 Archer Way Forney, TX 4
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 2013
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 503 Colt Drive Forney, TX 5
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2002
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
PROPERTY LISTING DETAILS
Melanie Johnston
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518232
Last Updated: 02/13/2021
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