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116 Venado Court Azle, TX 76020

4 Beds 2 Baths 2,432 sqft Built 2016

$315,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $129.52
  • 3 Days on Market
  • MLS # : 14514393
  • Updated Date : 02/13/2021 at 15:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,432 sqft
  • Baths : 2 full
Listing Agent

The Property Shop

Listing Agent's Description

MULTIPLE OFFERS RECEIVED, HIGHEST AND BEST DUE BY SUNDAY, FEB 14TH AT 5PM. Beautifully maintained 4 bedroom, 2 bath home in the gated Escondido community. This home is on a cul-de-sac sitting on a quarter acre lot! Open concept floor plan displaying a very spacious living room with hardwood flooring and a gas fireplace with gas logs. Primary bathroom boasts a walk in closet, jetted tub, and walk in shower. You will find a large backyard with a covered patio and dog run. It also backs to the greenbelt where you can take walks, or watch the many deer that frequent the area! Current owners prepaid for HVAC service twice a year, fully transferable to new owners for the next 2.5 years.

SEE MORE

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

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
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
 

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

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,094
Property Tax -$685
Property Insurance -$168
HOA -$38
Property Management Fees -$99
CASH FLOW
-$324

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

$1,760

PROJECTED RENT

0.56%

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

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 75% 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

0.33

YEARS SAVED

$278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,043

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,800
$1,800
RENT COMPS ANALYSIS
  • 116 Venado Court Azle, TX 1
    • 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.72
    •  
  • 1304 Glenwood Drive Azle, TX 2
    • 4 beds 2 baths ∙ 2,152 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,152 Sqft ∙ Built 2015
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Lisa Hawkins
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514393
Last Updated: 02/13/2021
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