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120 Bridlewood Street Azle, TX 76020

4 Beds 2 Baths 1,791 sqft Built 2015

INVESTimate

$215,000

List Price

$1,640

$1,476 - $1,804

Rent Est.

$231,899  ( +7.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $120.04
  • 2 Days on Market
  • MLS # : 14420216
  • Updated Date : 08/25/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,791 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

BEAUTIFULLY MAINTAINED and WELL KEPT home located in Golden Pond Estates features 4 BEDROOMS, 2 BATHS, Covered back patio and open concept living. Open the door to an inviting entryway that flows into a spacious living room. Kitchen features granite countertops and stainless steel appliances including electric range, microwave, dishwasher and refrigerator. Spacious owner's retreat with dual sinks in bathroom and large walk in closet! Neighborhood features private pond, playground and walking trails.

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
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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$793
Property Tax -$399
Property Insurance -$131
HOA -$29
Property Management Fees -$99
CASH FLOW
$189

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.

$215,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.86%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$29,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6904$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 120 Bridlewood Street Azle, TX 1
    • 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,791 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.92
    •  
  • 649 Clearbrook Street Azle, TX 2
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2016
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 145 Bridlewood Street Azle, TX 3
    • 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 2015
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.92
    •  
  • 653 Cameron Way Azle, TX 4
    • 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2016
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 644 Cameron Way Azle, TX 5
    • 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2016
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
PROPERTY LISTING DETAILS
Sandra Hemmerling
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420216
Last Updated: 08/25/2020
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