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744 Mahogany Forney, TX 75126

4 Beds 4 Baths 2,487 sqft Built 2020

INVESTimate

$348,000

List Price

$2,110

$1,899 - $2,321

Rent Est.

$368,045  ( +5.76%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $139.93
  • 5 Days on Market
  • MLS # : 14419098
  • Updated Date : 08/24/2020 at 10:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,487 sqft
  • Baths : 3 full , 1 half
Listing Agent

Taylor Morrison Realty Of Texa

Listing Agent's Description

MLS# 14419098 - Built by Taylor Morrison - December completion! ~ This a spacious and open single story home with open concept living. It comes with 4 bedrooms and 3.5 bathrooms. It offers a flex room in the front of the home for a diverse space. This beautiful layout has a 219 SQ. FT. patio, 3 car tandem garage and two master 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

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
Johnson Elementary School Primary Regular 513 31 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Johnson Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 31
8
GreatSchools Rating

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
 

$313,200$382,800$348,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,284
Property Tax -$797
Property Insurance -$171
HOA -$71
Property Management Fees -$99
CASH FLOW
-$312

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.

$348,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.76%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,220

INVESTMENT

$94,220

Down Payment
$87,000
Rehab Estimate
$2,000
Closing Costs
$5,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,000
Loan Amount $261,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,064

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0503$2,0904$2,1105$2,250
$2,250
RENT COMPS ANALYSIS
  • 744 Mahogany Forney, TX 4
    • 4 beds 4 baths ∙ 2,487 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,487 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.85
    •  
  • 211 Spruce Trail Forney, TX 1
    • 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,164 Sqft ∙ Built 2005
    property image
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 507 Olive Trail Forney, TX 2
    • 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 2013
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.79
    •  
  • 422 Red Oak Court Forney, TX 3
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 2005
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.79
    •  
  • 502 Elm Grove Trail Forney, TX 5
    • 4 beds 2 baths ∙ 2,517 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,517 Sqft ∙ Built 2009
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Taylor Morrison Realty Of Texa
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419098
Last Updated: 08/24/2020
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