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8023 Forest Trail Dallas, TX 75238

3 Beds 2 Baths 1,938 sqft Built 1985

$599,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $309.08
  • 3 Days on Market
  • MLS # : 14523160
  • Updated Date : 02/27/2021 at 20:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,938 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Rare 175 ft deep lot, nestled on a private street with a horse stable, just a stone's throw from Flagpole Hill, and zoned for coveted White Rock Elementary, this house has it all! Designed to have no wasted space, split bedroom layout, open living and dining to contemporary kitchen making it perfect for entertaining, two large living areas both looking out to the expansive backyard with deck, pool, and plenty of grass. The modern design and clean finishes make this light and bright house easy to love and move-in ready. Do not miss your opportunity to live on one of the most unique streets in east Dallas. Multiple offers received. DEADLINE TO SUBMIT an offer is Monday, March 1st at noon.

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: White Rock Valley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $102k582k

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

Neighborhood: White Rock Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9472954

* 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
White Rock Elementary School Primary Regular 816 48 8
White Rock Elementary School Middle Regular 816 48 8
Lake Highlands High School High Regular 1,707 112 5

White Rock Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 48
8
GreatSchools Rating

White Rock Elementary School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 48
8
GreatSchools Rating

Lake Highlands High School

  • Education Level: High
  • # of students: 1,707
  • # of teachers: 112
5
GreatSchools Rating
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$2,081
Property Tax -$1,474
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
-$1,503

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.

$599,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$2,621

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,306

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,2903$2,5004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 8023 Forest Trail Dallas, TX 2
    • 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.18
    •  
  • 10909 Listi Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1980
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.13
    •  
  • 7205 Claybrook Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 2,238 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,238 Sqft ∙ Built 1978
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.12
    •  
  • 7130 Winedale Drive Dallas, TX 4
    • 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 1976 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 1976
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.25
    •  
  • 7902 Nimrod Trail Dallas, TX 5
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1987
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.26
    •  
PROPERTY LISTING DETAILS
Nicole Thomas
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523160
Last Updated: 02/27/2021
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