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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $166.67
- 2 Days on Market
- MLS # : 14406370
- Updated Date : 01/29/2021 at 23:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,314 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Almost a quarter acre on Main Street in Formey. Ideal for Residence or Commercial setting. Plenty of area for your home or parking for commercial business. Recently updated with flooring, walls and paint, bathroom. Perfect for family or new buisness. This is in the heart of the development for Forney.
SEE MORE
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75126
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,410 |
| EXPENSES | Loan Payment | -$761 |
| Property Tax | -$502 | |
| Property Insurance | -$103 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$55
|
||
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.
$219,000
PROJECTED PRICE
$1,410
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$63,785
LOAN DETAILS
$761
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $54,750 |
| Loan Amount | $164,250 |
3.25
YEARS SAVED
$5,841
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,410
LIST RENT -
$1.07
LIST RENT PER SQFT
-
$1,258
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
607 Main Street Forney, TX 2
- 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $1,410
- $1.07
-
902 E Aimee Street Forney, TX 1
- 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 2003
![property image]()
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,375
- $0.93
-
216 Windsor Forney, TX 3
- 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
-
128 Stanford Forney, TX 4
- 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
-
129 Painted Trail Forney, TX 5
- 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 2007
![property image]()
LEASED 06/16/20- Rent
- Rent Per SQFT
- $1,625
- $0.98
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14406370
Last Updated: 01/29/2021
