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6806 Bonanza Way Forney, TX 75126

3 Beds 2 Baths 1,200 sqft Built 2020

$200,990

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $167.49
  • 2 Days on Market
  • MLS # : 14493266
  • Updated Date : 01/02/2021 at 15:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14493266 - Built by Starlight Homes - March completion! ~ The Atlantis floorplan is a perfect first home. This home is one-story with 3 bedrooms and 2 bathrooms. You will enjoy granite countertops and stainless steel appliances in the open concept kitchen with a patio off of it that is perfect for entertaining. Set up an appointment today to learn how we can guide you home to the Atlantis floorplan.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Crosby Elementary School Primary Regular 446 28 6
Brown Middle School Middle Regular 718 41 7
North Forney High School High Regular 1,274 83 7

Crosby Elementary School

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 28
6
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
 

$180,891$221,089$200,990

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$742
Property Tax -$461
Property Insurance -$97
HOA -$41
Property Management Fees -$99
CASH FLOW
-$159

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.

$200,990

PROJECTED PRICE

$1,280

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) 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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,262

INVESTMENT

$55,262

Down Payment
$50,248
Rehab Estimate
$2,000
Closing Costs
$3,015

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$742

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,248
Loan Amount $150,743
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,272

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,4493$1,5504$1,600
$1,600
RENT COMPS ANALYSIS
  • 6806 Bonanza Way Forney, TX 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.07
    •  
  • 2014 Fair Crest Trail Forney, TX 2
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2004
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $1.07
    •  
  • 2027 Brook Meadow Drive Forney, TX 3
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2006
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.05
    •  
  • 2019 Fairview Drive Forney, TX 4
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2004
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
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 #: 14493266
Last Updated: 01/02/2021
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