Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

137 Waterfall Court Azle, TX 76020

4 Beds 3 Baths 2,280 sqft Built 2006

$415,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $182.02
  • 5 Days on Market
  • MLS # : 14451377
  • Updated Date : 10/31/2020 at 11:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 3 full
Listing Agent

Re/max Trinity

Listing Agent's Description

GORGEOUS HOME on AMAZING 2.3 Acre Lot with 756 Sq Ft POOL HOUSE built in 2019 with HVAC, FULL BATH, & WET BAR! Could be used as Guest House, Business, or Income producing Air BNB! SPARKLING Saltwater POOL with full concrete decking! Oversized balcony with spiral staircase and VIEWS FOR MILES! HUGE LOT with BASEBALL FIELD and BATTING CAGE! Inside features include 4 Bedrooms, 3 Full Baths, Spacious Kitchen, and Game Room. 2 Upstairs spacious bedrooms with walk in closets and new carpet! Downstairs spacious master and 4th bedroom that is currently used as an office. Beautiful floor to ceiling windows across back of home for TONS of NATURAL LIGHT! Includes Nations Pure Water Purification System.

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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,531
Property Tax -$707
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
-$406

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.

$415,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.50%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,531

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1903$2,800
$2,800
RENT COMPS ANALYSIS
  • 137 Waterfall Court Azle, TX 1
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.92
    •  
  • 109 Blacktail Lane Azle, TX 2
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2004
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.12
    •  
  • 112 Deerchase Court Azle, TX 3
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2009
    LEASED 05/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.10
    •  
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 #: 14451377
Last Updated: 10/31/2020
BESbswy