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1004 Hope Court Azle, TX 76020

3 Beds 2 Baths 2,243 sqft Built 2020

$352,200

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $157.02
  • 3 Days on Market
  • MLS # : 14474806
  • Updated Date : 11/21/2020 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,243 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14474806 - Built by Doug Parr Custom Homes - February completion! ~ The Allen Plan has 3 Bedrooms, 2 Bathrooms, a study and a bonus or gameroom. It has 2243 SF of living space with custom cabinets and granite throughout. Located on a culdesac, this home has easy access to Azle and Springtown. Photos in listing are of a previous home built that is the same floor plan. Colors and selections will vary.

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: 76020

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $98k243k

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

Zip Code: 76020

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9121734

* 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
Reno Elementary School Primary Regular 337 25 3
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Reno Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 25
3
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$316,980$387,420$352,200

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,299
Property Tax -$579
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$205

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$352,200

PROJECTED PRICE

$1,930

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$95,333

INVESTMENT

$95,333

Down Payment
$88,050
Rehab Estimate
$2,000
Closing Costs
$5,283

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,299

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,050
Loan Amount $264,150
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,930
$1,930
RENT COMPS ANALYSIS
  • 1004 Hope Court Boyd, TX 2
    • 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.86
    •  
  • 377 Mcvoid Road Springtown, TX 1
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 2008
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474806
Last Updated: 11/21/2020
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