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1320 Glenwood Drive Azle, TX 76020

3 Beds 2 Baths 1,742 sqft Built 2015

$245,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $140.64
  • 4 Days on Market
  • MLS # : 14478418
  • Updated Date : 12/24/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,742 sqft
  • Baths : 2 full
Listing Agent

Veteran Realty Group

Listing Agent's Description

Welcome Home! This one-owner 3 bed, 2 bath home with office is nestled in the quiet Azle neighborhood of Bristol Farms. The living area is open and spacious with French doors leading to the office. The kitchen features granite countertops and stainless steel appliances with the formal dining area off the kitchen. The large master suite offers an oversized master bath with a separate shower and tub. The oversized backyard is perfect for pets or entertaining. Close to shopping, dining, and entertainment.

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

Neighborhood: Bristol Farm

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $79k272k

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

Neighborhood: Bristol Farm

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$904
Property Tax -$533
Property Insurance -$128
HOA -$8
Property Management Fees -$99
CASH FLOW
-$12

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.

$245,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.68%

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

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6603$1,7504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1320 Glenwood Drive Azle, TX 2
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.95
    •  
  • 605 Madeline Court Azle, TX 1
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2019
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 1357 Briarwood Drive Azle, TX 3
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 1341 Briarwood Drive Azle, TX 4
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 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
Jacob Ascher
Veteran Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478418
Last Updated: 12/24/2020
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