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12637 Azure Heights Place Rhome, TX 76078

4 Beds 3 Baths 2,560 sqft Built 2005

$240,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $93.75
  • 2 Days on Market
  • MLS # : 14461558
  • Updated Date : 11/02/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,560 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jds Realty

Listing Agent's Description

Spacious home on a corner lot located close to restaurants and shopping! Shale Creek Subdivision offers a community pool, park, and clubhouse all located outside of the city limits. This home is ready for someone to come in and make it their own!

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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: Shale Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $92k336k

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

Neighborhood: Shale Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10122171

* 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
Prairie View Elementary School Primary Regular 452 35 4
Chisholm Trail Middle School Middle Regular 899 64 7
Northwest High School High Regular 2,793 170 6

Prairie View Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 35
4
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$886
Property Tax -$343
Property Insurance -$175
HOA -$36
Property Management Fees -$99
CASH FLOW
$211

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.

$240,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$35,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6503$1,6954$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 12637 Azure Heights Place Rhome, TX 4
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 12101 Shine Avenue Rhome, TX 1
    • 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2006
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.66
    •  
  • 11921 Shine Avenue Rhome, TX 2
    • 4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,314 Sqft ∙ Built 2006
    property image
    LEASED 07/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 11932 Shine Avenue Rhome, TX 3
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.66
    •  
  • 12005 Arbor Lake Road Rhome, TX 5
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2007
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.75
    •  
PROPERTY LISTING DETAILS
Meranda Harmon
Jds Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461558
Last Updated: 11/02/2020
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