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784 Sycamore Trail Forney, TX 75126

4 Beds 3 Baths 2,166 sqft Built 2013

$296,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $136.66
  • 3 Days on Market
  • MLS # : 14521294
  • Updated Date : 02/26/2021 at 16:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,166 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautiful home located in highly sought after Trails of Chestnut Meadows. Functional floorplan is perfectly constructed for entertaining given the oversized island and spacious living area. This home has 4 bedrooms and 2 and half baths. Formal dining room can be a flex room. Perfectly positioned Master retreat and master luxury bath. Planning desk located just of master bedroom. Secondary bedrooms are spacious. Home also features a covered porch in the back yard. The community pool is located down the street. HOA DOES NOT ALLOW TENNANTS WITHIN FIRST 12 MTHS. SEE PRVIATE REMARKS

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

Neighborhood: Trails of Chestnut Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Trails of Chestnut Meadow

NeighborhoodNIR 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
 

$266,400$325,600$296,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,028
Property Tax -$678
Property Insurance -$152
HOA -$35
Property Management Fees -$99
CASH FLOW
$47

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.

$296,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,190

INVESTMENT

$84,190

Down Payment
$74,000
Rehab Estimate
$5,750
Closing Costs
$4,440

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,028

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,000
Loan Amount $222,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$15,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7453$1,8954$2,0005$2,040
$2,040
RENT COMPS ANALYSIS
  • 784 Sycamore Trail Forney, TX 5
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.94
    •  
  • 127 Ashbrook Trail Forney, TX 1
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 2005
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.83
    •  
  • 221 Spruce Trail Forney, TX 2
    • 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 2006
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.84
    •  
  • 9040 Bald Cypress Street Forney, TX 3
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2018
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 131 Hazelnut Trail Forney, TX 4
    • 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,232 Sqft ∙ Built 2004
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Sandra Carrasco
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 #: 14521294
Last Updated: 02/26/2021
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