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6159 Alltoona Road Fort Worth, TX 76179

3 Beds 2 Baths 1,930 sqft Built 2017

INVESTimate

$319,900

List Price

$1,730

$1,557 - $1,903

Rent Est.

$337,910  ( +5.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $165.75
  • 5 Days on Market
  • MLS # : 14418535
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,930 sqft
  • Baths : 2 full
Listing Agent

Fadal Buchanan & Associatesllc

Listing Agent's Description

GORGEOUS CUSTOM HOME!!! Highly sought after Marine Creek Ranch in EMSISD schools. 3 Bedrooms, 2 full baths, Kitchen with gas cooktop, granite counters, large island and breakfast bar, Master suite boosts sitting area, soaking tub, rain shower, separate vanities, Enjoy your covered patio and oversized yard ready for your pool design, Plenty of natural light coming in from skylight to plantation shutters on all windows, Community Pool and club house, walking trails and Marine Creek Lake at your fingertips, within walking distance to elementary school, Close to shopping and highways

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: Marine Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

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

Neighborhood: Marine Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191828

* 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
Parkview Elementary School Primary Regular 695 40 6
Ed Willkie Middle School Middle Regular 862 53 5

Parkview Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 40
6
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,180
Property Tax -$733
Property Insurance -$139
HOA -$60
Property Management Fees -$99
CASH FLOW
-$481

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$319,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.63%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$18

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6504$1,6955$1,730
$1,730
RENT COMPS ANALYSIS
  • 6159 Alltoona Road Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.90
    •  
  • 5821 Water Ridge Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2009
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 5800 Pearl Oyster Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2004
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 6036 Horse Trap Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2004
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 5832 Barrier Reef Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2005
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
PROPERTY LISTING DETAILS
Dolores Fadal
Fadal Buchanan & Associatesllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418535
Last Updated: 08/22/2020
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