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111 Falling Oak Drive Azle, TX 76020

3 Beds 2 Baths 1,739 sqft Built 2004

$315,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $181.14
  • 3 Days on Market
  • MLS # : 14539937
  • Updated Date : 03/27/2021 at 20:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,739 sqft
  • Baths : 2 full
Listing Agent

The Property Shop

Listing Agent's Description

Stunning Windy Hill Estate Home just hit the market in Azle!! This gorgeous home features 3 bedrooms. 2 bathrooms and 1739 sq ft of living space. This home features a attached and detached garage and carport, spacious bedrooms, open concept floor plan, and great closet spaces! The kitchen comes equipped with black stainless appliances and dry bar. This beautiful home also sits on 1.36 acres and also is in the highly-coveted Azle ISD and Parker County.

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

Zip Code: 76020

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* 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
Silver Creek Elementary School Primary Regular 524 31 5
Azle Junior High School Middle Regular 465 27 6
Azle High School High Regular 1,742 107 7

Silver Creek Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 31
5
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,094
Property Tax -$537
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$7

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.

$315,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.59%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,190
$2,190
RENT COMPS ANALYSIS
  • 111 Falling Oak Drive Azle, TX 1
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
  • 109 Blacktail Lane Azle, TX 2
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2004
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.12
    •  
PROPERTY LISTING DETAILS
Joe Mccalip
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539937
Last Updated: 03/27/2021
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