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840 Lauren Grove Lane Forney, TX 75126

4 Beds 2 Baths 1,861 sqft Built 2021

$273,499

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $146.96
  • 3 Days on Market
  • MLS # : 14474959
  • Updated Date : 11/20/2020 at 11:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,861 sqft
  • Baths : 2 full
Listing Agent

Wendell Miller Realty

Listing Agent's Description

The Serenade is a lovely 1,861 sq. ft. brick and stone home. It features four bedrooms, two bathrooms, and an open concept kitchen with a gas stove, oven, microwave, dishwasher and a white quartz countertop island that flows nicely into a roomy family room and dining nook. Five large picture windows illuminate the family room, nook and kitchen with natural light and offer views out over the covered patio, big backyard and an expansive greenbelt with a quaint wood bridge connecting our community walking trails and disc golf course. This home is complete JANUARY 2021.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$246,149$300,849$273,499

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,009
Property Tax -$627
Property Insurance -$135
HOA -$71
Property Management Fees -$99
CASH FLOW
-$140

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.

$273,499

PROJECTED PRICE

$1,800

PROJECTED RENT

0.66%

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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$74,477

INVESTMENT

$74,477

Down Payment
$68,375
Rehab Estimate
$2,000
Closing Costs
$4,102

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,009

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,375
Loan Amount $205,124
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7503$1,8004$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 840 Lauren Grove Lane Forney, TX 3
    • 4 beds 2 baths ∙ 1,861 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,861 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 419 Chinaberry Trail Forney, TX 1
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 217 Spruce Trail Forney, TX 2
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2005
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 324 Cherrywood Trail Forney, TX 4
    • 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2002
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 204 Spruce Trail Forney, TX 5
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 2007
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.94
    •  
PROPERTY LISTING DETAILS
Wendell Miller
Wendell Miller Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474959
Last Updated: 11/20/2020
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