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116 Gardenia Drive Azle, TX 76020

3 Beds 2 Baths 1,730 sqft Built 2021

$271,604

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $157.00
  • 7 Days on Market
  • MLS # : 14510309
  • Updated Date : 02/04/2021 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,730 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14510309 - Built by Antares Homes - May completion! ~ Enter through the foyer and into the family room with a tile-surround fireplace. Close by is the open-concept kitchen with stainless steel appliances, a large island, and a large walk-in pantry. The breakfast nook features a built-in window seat and provides direct access to the rear covered patio. In the master suite, enjoy a large room with vaulted ceilings and adjoined bath with a dual sink vanity, a separate walk-in shower, a large garden tub, and a spacious walk-in closet. Two additional bedrooms easy access to a full bath. Access to the two-car garage is located at the front of the home through the full-sized utility room.

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*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
 

$244,444$298,764$271,604

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$943
Property Tax -$451
Property Insurance -$127
HOA -$30
Property Management Fees -$99
CASH FLOW
$40

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$271,604

PROJECTED PRICE

$1,690

PROJECTED RENT

0.62%

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) 3.00%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,975

INVESTMENT

$73,975

Down Payment
$67,901
Rehab Estimate
$2,000
Closing Costs
$4,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$943

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,901
Loan Amount $203,703
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,237

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7503$1,8004$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 116 Gardenia Drive Azle, TX 1
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.98
    •  
  • 661 River Rock Drive Azle, TX 2
    • 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2017
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 648 River Rock Drive Azle, TX 3
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2016
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 644 Cameron Way Azle, TX 4
    • 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2016
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 120 Bridlewood Street Azle, TX 5
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2015
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
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 #: 14510309
Last Updated: 02/04/2021
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