1502 Wheatley Way · Forney, TX 75126

$302,500

4 bd · 2.5 ba · 2,179 sqft · SingleFamily public records · 3 Days on market

Built 2018 7,275 sqft lot Est $331k · 9% under $40/mo HOA · 2% of rent ↓ 14% since listing

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +11.4/15.0
• Cash flow +7.0/30.0
• Schools +4.0/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PERRY HOMES NEW CONSTRUCTION READY FOR MOVE-IN! Mahogany front door. Coffered ceiling in the extended entry. Kitchen and adjoining morning area open to the family room with a cast stone fireplace and ceramic tile floor. Kitchen features island with built-in seating space. Spacious formal dining room with ceramic tile floor. Master suite includes double sinks, garden tub, separate glass-enclosed shower and a walk-in closet. Extended covered backyard patio. Two-car garage.

Key facts

• 7,275 sq ft lot
• 2 garage spots
• Built 2018

Property features AI

Finance

• Financial info: Listing accepted for cash, conventional, FHA, or USDA financing; Special listing condition: Real Estate Owned
• HOA & community: Mandatory association; Annual association fee of $480; Association includes full use of facilities and management fees; HOA managed by CCMC

Exterior

• Parking: Attached 2-car garage (garage faces front)
• Security: Security features: Unknown
• Utilities: Municipal utility district; Asphalt access; Cable available
• Home design: Single-family residence; One story; Residential property; Subdivision: Devonshire Village 2d
• Construction: Built in 2018; Brick and wood construction with other materials; Composition roof; Slab foundation
• Exterior features: Covered porch(es); Covered patio/porch; Wood fencing; Grassed vegetation; Interior lot

Interior

• Kitchen: Gas cooktop; Dishwasher; Garbage disposal
• Bedrooms: 4 bedrooms (all on the main level); Primary bedroom with walk-in closet
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms; 1 half bathroom; Primary bathroom with dual sinks, garden tub and separate shower
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric)
• Interior features: Cable TV available; High-speed internet available; Walk-in closets; One living area; Two dining areas; Total room count: 9; Levels: One
• Laundry & utility: Full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $302k.

Deal economics

• At list price, monthly cash flow is $-437 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (12.2% below list).
• Recommended offer: $225k (25.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 76/100 on livability (#98 in TX, #3,339 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities C-, commute F.
• Forney ISD (rural): math 41% / reading 44% proficiency, ranked #234 of 826 in TX (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crosby El (math 37% / reading 36%, grade F, #1,883 of 4,322 statewide, top 44%, 682 students, 59% FRL); Brown Middle (math 29% / reading 39%, grade F, #892 of 1,662 statewide, top 55%, 673 students, 56% FRL); North Forney H S (math 32% / reading 45%, grade F, #866 of 1,632 statewide, top 54%, 2,502 students, 49% FRL) — zoned schools average 55% FRL vs 26% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 2200 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,747 units permitted in Kaufman County in 2024 (180 in 5+ unit buildings).
• This rent runs 31% of the median local income ($104k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Kaufman County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,282 (25.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 4.56%
• Cash-on-cash: -6.19%
• DSCR: 0.72
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $331,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1008 Wedgewood Dr	0.16mi	3/2.0 (-1)	2,232 (+2%)	2mo	$339,999	$152	80
1121 Bantham Way	0.27mi	4/3.0	2,348 (+8%)	1mo	$395,000	$168	72
1357 Cider St	0.35mi	3/2.5 (-1)	2,090 (-4%)	1mo	$324,890	$155	72
1727 Glacial Beech Pl	0.43mi	3/2.5 (-1)	2,090 (-4%)	0mo	$326,808	$156	68
1090 Clear Dusk Ln	0.58mi	4/3.0	2,142 (-2%)	1mo	$299,990	$140	67
1222 Abbeygreen Rd	0.69mi	4/2.5	2,131 (-2%)	2mo	$399,000	$187	63
2479 Arbutus Dr	0.68mi	4/2.5	2,257 (+4%)	2mo	$334,990	$148	61
1017 Knoxbridge Rd	0.62mi	4/2.0	2,296 (+5%)	1mo	$350,000	$152	60
2032 Longbridge Rd	0.67mi	4/2.5	2,313 (+6%)	2mo	$334,987	$145	57
1046 Finsbury Ln	0.49mi	4/3.0	2,426 (+11%)	0mo	$350,000	$144	56
2302 Bay Laurel Ln	0.65mi	4/3.0	2,429 (+12%)	2mo	$314,990	$130	47
2305 Bay Laurel Ln	0.66mi	4/2.5	1,893 (-13%)	0mo	$274,990	$145	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.42% rent growth · sell at horizon

5-year hold

• IRR: -29.0%
• Equity multiple: 0.05×
• Total profit: $-80,701
• Equity at exit: $45,104

10-year hold

• IRR: -38.9%
• Equity multiple: -0.43×
• Total profit: $-121,369
• Equity at exit: $26,155

Cash invested: $84,700 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75126

• Rents YoY: 1.4%
• Active inventory: 2200
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,655 high
• Mortgage (P&I): −$1,586
• Tax from tax record: −$782 /mo · $9,387/yr
• Insurance: −$126
• HOA: −$40
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $-437

Break-even live

Break-even rent $3,208

Max offer price $225,282

Occupancy floor —

Sensitivity live

Price	-10% $-266	-5% $-351	+0% $-437	+5% $-523	+10% $-608
Rent	-10% $-647	-5% $-542	+0% $-437	+5% $-332	+10% $-227
Rate	-1.0pp $-285	-0.5pp $-360	base $-437	+0.5pp $-515	+1.0pp $-595

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $75,625
• Closing costs: $9,075
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1539 Wheatley Way Forney, TX	4.0	3.0	2396	$2,995	$1.25	18d	1	0.19mi
1539 Wheatley Way Forney, TX	4.0	3.0	2396	$2,800	$1.17	12d	1	0.19mi
1535 Calcot Ln Forney, TX	4.0	3.0	2036	$2,600	$1.28	17d	1	0.21mi
1036 Edgefield Ln Forney, TX	3.0	2.5	2800	$6,700	$2.39	45d	1	0.25mi
1017 Somerset Cir Forney, TX	3.0	2.0	2185	$2,375	$1.09	9d	1	0.29mi
2421 Eldor Way Forney, TX	4.0	2.0	1680	$2,195	$1.31	26d	1	0.40mi
4424 Lassen Trl Forney, TX	4.0	2.0	1984	$2,295	$1.16	45d	1	0.43mi
1229 Autumn Mist Ln Forney, TX	4.0	3.0	2609	$2,795	$1.07	6d	1	0.47mi
1025 Dunhill Ln Forney, TX	4.0	2.0	2273	$2,450	$1.08	3d	1	0.51mi
2422 Arbutus Dr Forney, TX	3.0	2.5	2111	$2,045	$0.97	26d	1	0.52mi
1281 Wedgeleaf Ln Forney, TX	3.0	2.0	1522	$1,805	$1.19	14d	1	0.53mi
1285 Wedgeleaf Ln Forney, TX	3.0	2.0	1522	$1,800	$1.18	45d	1	0.54mi
1289 Wedgeleaf Ln Forney, TX	3.0	2.0	1522	$1,785	$1.17	23d	1	0.55mi
1462 Everett Gardens Way Forney, TX	4.0	2.0	1858	$2,195	$1.18	26d	1	0.56mi
1462 Everett Gardens Way Forney, TX	4.0	2.0	1858	$2,195	$1.18	3d	1	0.56mi
2043 Pleasant Knoll Cir Forney, TX	3.0	2.0	1734	$2,099	$1.21	45d	1	0.56mi
1430 Everett Gardens Way Forney, TX	3.0	2.0	1465	$1,950	$1.33	14d	1	0.59mi
1128 Queensdown Way Forney, TX	4.0	3.0	2097	$2,999	$1.43	45d	1	0.60mi
1129 Clear Dusk Ln Forney, TX	5.0	3.0	2520	$3,600	$1.43	45d	1	0.61mi
1448 Kingswell Ln Forney, TX	4.0	3.0	2208	$2,950	$1.34	26d	1	0.62mi
1611 Sparrow Hawk Rd Forney, TX	3.0	2.0	1522	$1,800	$1.18	45d	1	0.63mi
1405 Merlin Bluff St Forney, TX	3.0	2.0	1500	$2,400	$1.60	8d	1	0.64mi
1621 Sparrow Hawk Rd Forney, TX	3.0	2.0	1522	$1,785	$1.17	23d	1	0.66mi
1759 Gleasondale Pl Forney, TX	3.0	2.0	1726	$2,050	$1.19	26d	1	0.67mi
1419 Merlin Bluff St Forney, TX	3.0	2.0	1454	$1,900	$1.31	14d	1	0.68mi
1426 Merlin Bluff St Forney, TX	3.0	2.0	1522	$1,785	$1.17	23d	1	0.68mi
2016 Croftbank St Forney, TX	3.0	2.5	1920	$2,600	$1.35	0d	1	0.69mi
1147 Barbary Fields St Forney, TX	3.0	2.0	1522	$2,200	$1.45	0d	1	0.70mi
1750 Gleasondale Pl Forney, TX	3.0	2.0	1633	$2,200	$1.35	45d	1	0.70mi
4080 Dayton Dr Forney, TX	4.0	2.5	1984	$2,295	$1.16	20d	1	0.71mi
1708 Crossbill St Forney, TX	3.0	2.0	1760	$1,840	$1.05	17d	1	0.72mi
1715 Crossbill St Forney, TX	3.0	2.0	1522	$1,785	$1.17	23d	1	0.73mi
1355 Wedgeleaf Ln Forney, TX	3.0	2.0	1461	$2,200	$1.51	45d	1	0.74mi
1719 Crossbill St Forney, TX	3.0	2.0	1474	$1,795	$1.22	23d	1	0.74mi
1716 Crossbill St Forney, TX	3.0	2.0	1451	$1,785	$1.23	45d	1	0.74mi
1158 Barbary Fields St Forney, TX	4.0	2.0	1780	$2,200	$1.24	0d	1	0.75mi
1211 Canyon Wren Dr Forney, TX	4.0	2.0	1656	$2,400	$1.45	23d	1	0.75mi
1723 Crossbill St Forney, TX	3.0	2.0	1461	$1,785	$1.22	45d	1	0.76mi
1720 Crossbill St Forney, TX	3.0	2.0	1461	$1,785	$1.22	45d	1	0.76mi
1725 Crossbill St Forney, TX	3.0	2.0	1451	$1,785	$1.23	45d	1	0.76mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 3 events

1. 2026-06-21
   remarks 693-char remark
2. 2026-06-21
   days on market $302,500 Active 3 DOM
3. 2026-06-18
   listed $302,500 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $9,387 · $782/mo
• Projected year-2 tax: $9,387 · $782/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,861
• − Mortgage interest: −$16,945
• − Property taxes: −$9,387
• − Insurance: −$1,512
• − Repairs & maintenance: −$2,549
• − Management: −$2,549
• − HOA: −$480
• − Depreciation: −$8,800
• Taxable loss: −$10,361
• Est. tax savings @ 24.0%: +$2,487
• After-tax cash flow: $-2,759/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Forney ISD
• NCES district ID: 4819560
• Math proficiency: 41% ▼ -20.00%
• Reading proficiency: 44% ▼ -12.00%
• Median HH income: $86,679
• Composite: 40.07/100
• National rank: #3812
• State rank: #234 of 826 in TX

Livability — Forney

• Score: 76/100
• State rank: #98
• US rank: #3339

Category grades

Amenities C- Commute F Cost of living A+ Crime A+ Employment A+ Housing A+ Health & safety B+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kaufman County · 122,338 people
• City population: 84,799
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 84,799
• Household income: $103,673
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 1306.0

Population outlook (Kaufman County) Hauer SSP2

• Today (2025): 138,716 people
• By 2030: 150,815 · +8.7%
• By 2040: 174,877 · +26.1%
• By 2050: 198,020 · +42.8%
• By 2075: 251,908 · +81.6%
• By 2100: 285,325 · +105.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 45% Black 25% Hispanic / Latino 23% Two or more races 14% Asian 3%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 1% Portuguese 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 14% Arabic 1% Vietnamese 1%

Political lean MEDSL · Kaufman

• 2024 margin: Strong R (+27.9) · D 35.6% · R 63.5%
• 2008→2024 swing: +7.9pp toward D · 2008: -35.8pp · 2024: -27.9pp
• All cycles: 2024: R+27.9 2020: R+33.9 2016: R+47.0 2012: R+44.4 2008: R+35.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.93%
• Current HPI: 148.5749
• Rent YoY: ▲ 1.42%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-14.0% since first listed

12 events — show timeline

• 2026-06-15 Listed $302,500 NTREIS
• 2019-03-19 Sold (MLS) — NTREIS
• 2019-02-19 Pending — NTREIS
• 2019-02-07 Price Changed $300,900 NTREIS
• 2019-02-06 Relisted — NTREIS
• 2018-12-27 Pending — NTREIS
• 2018-11-14 Price Changed $299,900 NTREIS
• 2018-10-11 Price Changed $324,900 NTREIS
• 2018-10-05 Price Changed $325,900 NTREIS
• 2018-09-28 Price Changed $324,900 NTREIS
• 2018-08-03 Price Changed $349,900 NTREIS
• 2018-08-02 Listed $351,900 NTREIS

Property tax history

+31.3%/yr

Latest (2025): $9,387 · -2.5% YoY. Source: county tax records.