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1416 Eagles Nest Drive Pelican Bay, TX 76020

3 Beds 2 Baths 1,504 sqft Built 2021

$227,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $150.93
  • 3 Days on Market
  • MLS # : 14490646
  • Updated Date : 12/25/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

CARNEGIE HOMES PRESENTS THE NEW LAKEVIEW ESTATES IN PELICAN BAY! Perfect for any LIFESTYLE! This 2021 home features 3bedrooms, 2 bath, open floor plan, modern lighting, wood-burning fireplace. Chef's kitchen with granite and island. Relax in the oversized master retreat w dual sinks, garden tub, separate walk-in shower and spacious walk-in closet! Backyard with sprinkler, covered patio. Energy Star certified ensures low energy bills. Radiant barrier, low E vinyl energy efficient windows, fully sodded, gutters. 10 year structural warranty. Minutes to shopping, restaurants, EML, hiking, parks. Azle ISD. No HOA fees! 5 minutes from Eagle Mountain Lake. Come live the good life.

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*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 76020

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8891734

* 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
Liberty Elementary School Primary Regular 449 27 7
Forte Junior High School Middle Regular 448 28 5
Azle High School High Regular 1,742 107 7

Liberty Elementary School

  • Education Level: Primary
  • # of students: 449
  • # of teachers: 27
7
GreatSchools Rating

Forte Junior High School

  • Education Level: Middle
  • # of students: 448
  • # of teachers: 28
5
GreatSchools Rating

Azle High School

  • Education Level: High
  • # of students: 1,742
  • # of teachers: 107
7
GreatSchools Rating
 

$204,300$249,700$227,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$838
Property Tax -$494
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
$46

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$227,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.70%

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) 3.00%
Vacancy 6.69%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,155

INVESTMENT

$62,155

Down Payment
$56,750
Rehab Estimate
$2,000
Closing Costs
$3,405

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$838

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,750
Loan Amount $170,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,555

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5904$1,6605$1,700
$1,700
RENT COMPS ANALYSIS
  • 1416 Eagles Nest Drive Pelican Bay, TX 3
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.06
    •  
  • 121 Dennis Drive Azle, TX 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 128 Dennis Drive Azle, TX 2
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2020
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 776 Hunter Drive Azle, TX 4
    • 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.03
    •  
  • 1328 E Surfside Drive Azle, TX 5
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2018
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Sherri Blasingame
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490646
Last Updated: 12/25/2020
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