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1017 Gladstone Avenue Azle, TX 76020

3 Beds 2 Baths 1,252 sqft Built 1983

$187,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $149.36
  • 3 Days on Market
  • MLS # : 14475796
  • Updated Date : 12/05/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,252 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

Great Location, won't last long. Cozy 3 bedrooms two bath home in a great neighborhood. Galley kitchen with plenty of storage. Laundry room located right off the kitchen. Nice size bedrooms with closet space. Large back yard, fully fenced. Outbuilding offers additional storage. Sit on your patio and enjoy your morning coffee. New carpet being installed the bedrooms. Conveniently located near the hospital. There will be new carpet in all bedrooms, delay of install due to covid backlog. Will be done prior to closing. Buyer to verify square footage and schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Woodland Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Woodland Terrace

NeighborhoodNIR 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
Walnut Creek Elementary School Primary Regular 510 28 6
Azle Junior High School Middle Regular 465 27 6
Azle High School High Regular 1,742 107 7

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 510
  • # of teachers: 28
6
GreatSchools Rating

Azle Junior High School

  • Education Level: Middle
  • # of students: 465
  • # of teachers: 27
6
GreatSchools Rating

Azle High School

  • Education Level: High
  • # of students: 1,742
  • # of teachers: 107
7
GreatSchools Rating
 

$168,300$205,700$187,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$690
Property Tax -$407
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
$55

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.

$187,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,305

INVESTMENT

$55,305

Down Payment
$46,750
Rehab Estimate
$5,750
Closing Costs
$2,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,750
Loan Amount $140,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$14,349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,349

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3503$1,3504$1,3955$1,495
$1,495
RENT COMPS ANALYSIS
  • 1017 Gladstone Avenue Azle, TX 3
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 844 James Street Azle, TX 1
    • 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1984
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.08
    •  
  • 704 Stribling Circle Azle, TX 2
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 2003
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
  • 720 James Street Azle, TX 4
    • 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1971
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.17
    •  
  • 413 Meadowcrest Drive Azle, TX 5
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 2003
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.05
    •  
PROPERTY LISTING DETAILS
Diana Mcdowell
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475796
Last Updated: 12/05/2020
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