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5312 Canfield Lane Forney, TX 75126

5 Beds 3 Baths 2,788 sqft Built 2017

$300,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $107.60
  • 5 Days on Market
  • MLS # : 14469343
  • Updated Date : 11/14/2020 at 14:56
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,788 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Enjoy Clements Ranch amenities including clubhouse, pool, trails, private lake, sports fields & more! This Highland built home offers an open & flexible floor plan including soaring ceilings, luxury vinyl plank flooring, primary bedroom with ensuite bath + another bedroom & full bath downstairs. The kitchen features beautiful granite counter tops, plenty of cabinetry, walk in pantry, stainless steel appliances & gas range. Warmed by a gas log fireplace, the living space downstairs is open to the kitchen & breakfast area for easy entertaining. A large covered patio extends the living space outdoors offering a great spot for morning coffee or to grill & chill after a long day! Neutral colors throughout.

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,107
Property Tax -$705
Property Insurance -$188
HOA -$42
Property Management Fees -$99
CASH FLOW
-$21

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.

$300,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.71%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$13,038

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,070

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9453$1,9954$2,1205$2,125
$2,125
RENT COMPS ANALYSIS
  • 5312 Canfield Lane Forney, TX 4
    • 5 beds 3 baths ∙ 2,788 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,788 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.76
    •  
  • 5264 Canfield Lane Forney, TX 1
    • 5 beds 3 baths ∙ 2,756 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,756 Sqft ∙ Built 2017
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 2212 Tombstone Road Forney, TX 2
    • 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2017
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.75
    •  
  • 2002 Jack County Drive Forney, TX 3
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 2012
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
  • 1007 Rumley Road Forney, TX 5
    • 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 2005
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.76
    •  
PROPERTY LISTING DETAILS
Beverly Wingard
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469343
Last Updated: 11/14/2020
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