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1140 Edgewater Drive Azle, TX 76020

3 Beds 2 Baths 1,533 sqft Built 2006

$219,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $143.44
  • 3 Days on Market
  • MLS # : 14465136
  • Updated Date : 11/06/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,533 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Fort Worth

Listing Agent's Description

Charming well maintained home offers open concept living with generous sized bedrooms. This home was originally a model home so garage is set up with AC and heat! HOA offers community pool! Great location close to Fort Worth makes this home a great buy!

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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: Ashwood Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Ashwood Park

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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$811
Property Tax -$478
Property Insurance -$116
HOA -$37
Property Management Fees -$99
CASH FLOW
$49

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.

$219,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.72%

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) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4953$1,5904$1,6005$1,795
$1,795
RENT COMPS ANALYSIS
  • 1140 Edgewater Drive Azle, TX 3
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.04
    •  
  • 704 Stribling Circle Azle, TX 1
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 2003
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
  • 1325 Briarwood Drive Azle, TX 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2014
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.11
    •  
  • 537 Harbor Crest Road Azle, TX 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2005
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 1104 Forest Glen Drive Azle, TX 5
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2017
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
PROPERTY LISTING DETAILS
Annissa Gotich
Jp And Associates Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465136
Last Updated: 11/06/2020
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