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1253 Altuda Drive Forney, TX 75126

5 Beds 3 Baths 3,567 sqft Built 2021

$401,969

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $112.69
  • 3 Days on Market
  • MLS # : 14519638
  • Updated Date : 02/19/2021 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,567 sqft
  • Baths : 3 full
Listing Agent

Imp Realty

Listing Agent's Description

MLS# 14519638 - Built by Impression Homes - April completion! ~ This beautiful 2-story Thornbury plan has 5 bedrooms, 3 baths, and a 2.5 car garage. It has 2 beds, 2 baths plus a study with French doors on the first floor and 3 beds, 1 bath plus a game room upstairs. Master is down with a his and hers large walk-in closet, dual vanity sinks, garden tub and separate shower. This home is perfect for entertaining with the wood look tile throughout the main living areas, beautiful stone fireplace, open California style kitchen, stainless steel appliances, 42 white upper cabinets, granite and more!

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

Neighborhood: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Fox Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262309

* 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
Rhea Elementary School Primary Regular 709 42 8
Warren Middle School Middle Regular 713 39 9
Forney High School High Regular 1,402 88 8

Rhea Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 42
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
 

$361,772$442,166$401,969

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$1,396
Property Tax -$921
Property Insurance -$233
HOA -$21
Property Management Fees -$99
CASH FLOW
$220

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.

$401,969

PROJECTED PRICE

$2,890

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,522

INVESTMENT

$108,522

Down Payment
$100,492
Rehab Estimate
$2,000
Closing Costs
$6,030

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,396

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,492
Loan Amount $301,477
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$36,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,845

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7253$2,8254$2,8905$3,000
$3,000
RENT COMPS ANALYSIS
  • 1253 Altuda Drive Forney, TX 4
    • 5 beds 3 baths ∙ 3,567 Sqft ∙ Built 2021 5 beds 3 baths ∙ 3,567 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.81
    •  
  • 914 Dancing Waters Forney, TX 1
    • 4 beds 4 baths ∙ 3,483 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,483 Sqft ∙ Built 2005
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.75
    •  
  • 1024 Lufkin Lane Forney, TX 2
    • 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,322 Sqft ∙ Built 2014
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $0.82
    •  
  • 1136 Glendon Drive Forney, TX 3
    • 4 beds 3 baths ∙ 3,518 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,518 Sqft ∙ Built 2011
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $0.80
    •  
  • 239 Hound Hollow Road Forney, TX 5
    • 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Imp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519638
Last Updated: 02/19/2021
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