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5241 Alta Loma Drive Fort Worth, TX 76244

4 Beds 2 Baths 2,498 sqft Built 2002

$310,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $124.10
  • 4 Days on Market
  • MLS # : 14460671
  • Updated Date : 11/02/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,498 sqft
  • Baths : 2 full
Listing Agent

Weichert, Realtors-bev Young

Listing Agent's Description

HUGE 2500 SQUARE FOOT 4-BEDROOM 1-STORY ON A QUARTER ACRE LOT IS JUST A FEW STEPS FROM THE COMMUNITY POOL! Archways, Art Niches, a Custom Ceiling Treatment and Beautiful Wood Laminate Flooring All Add Character. Generously-Sized Family Room Beckons with Fireplace and Ample Natural Light. Spacious Study or Second Living Area Accommodates Two People Working From Home. Attractive Kitchen Features Abundant Cabinetry, Granite Countertops, Breakfast Bar, Walk-In Pantry, Recessed Lighting and Breakfast Area with Window Seat. Formal Dining Room Too! Oversized Master Suite Offers Full-Featured Bath. You’ll Enjoy Entertaining or Relaxing on the Large Covered Patio. Children and Pets Will Love All the Back Yard Space!

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: The Vineyards at Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: The Vineyards at Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Parkwood Hill Intermediate School Primary Regular 1,070 57 8
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Parkwood Hill Intermediate School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 57
8
GreatSchools Rating

Hillwood Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 65
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,144
Property Tax -$711
Property Insurance -$172
HOA -$40
Property Management Fees -$99
CASH FLOW
-$335

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.

$310,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$427

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,824

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8253$1,8304$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 5241 Alta Loma Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.73
    •  
  • 9048 Fremont Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 5541 Costa Mesa Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,543 Sqft ∙ Built 2002
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.72
    •  
  • 9005 Belvedere Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 2003
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
  • 9037 Napa Valley Trail Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2003
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.72
    •  
PROPERTY LISTING DETAILS
Bev Young
Weichert, Realtors-bev Young
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460671
Last Updated: 11/02/2020
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