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511 Kaufman Street Forney, TX 75126

3 Beds 2 Baths 1,358 sqft Built 2004

$210,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $154.64
  • 3 Days on Market
  • MLS # : 14525448
  • Updated Date : 03/05/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Attorney Broker Services

Listing Agent's Description

Are you looking for a cozy countryside oasis? Look no further. This beautiful 2004 build features 3 bedrooms, 2 bathrooms, and a 2 car garage. This home is just a short drive to everything Forney has to offer. Aside from the open layout and gas start wood burning fireplace, the birds visiting your back patio everyday will definitely make you feel at home. This home is must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$729
Property Tax -$481
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$65

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.64%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$4,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,341

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4493$1,5504$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 511 Kaufman Street Forney, TX 1
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 216 Windsor Forney, TX 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2001
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.96
    •  
  • 310 Stanford Forney, TX 3
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2005
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 212 Colgate Forney, TX 4
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2005
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.02
    •  
  • 128 Stanford Forney, TX 5
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2006
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Sydney Minor
Attorney Broker Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525448
Last Updated: 03/05/2021
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