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1417 Eagle Lake Drive Azle, TX 76020

3 Beds 2 Baths 1,258 sqft Built 2019

$209,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $166.85
  • 3 Days on Market
  • MLS # : 14470648
  • Updated Date : 11/13/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,258 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Just like new! This one-story home has all the updates, charm and is move-in ready. 3 bedrooms, 2 bathrooms and an open layout. Kitchen has granite and white cabinets and there's laminate wood flooring completing this fresh design. Excellent community in Azle, close to Eagle Mountain Lake!

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$774
Property Tax -$457
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
-$30

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.

$209,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,624

INVESTMENT

$57,624

Down Payment
$52,475
Rehab Estimate
$2,000
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$8,677

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,4954$1,6005$1,625
$1,625
RENT COMPS ANALYSIS
  • 1417 Eagle Lake Drive Azle, TX 1
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
  • 1325 Briarwood Drive Azle, TX 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2014
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.11
    •  
  • 1313 Briarwood Drive Azle, TX 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2006
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.13
    •  
  • 537 Harbor Crest Road Azle, TX 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2005
    property image
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 132 Parkwood Court Azle, TX 5
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.14
    •  
PROPERTY LISTING DETAILS
Irina Sanders
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470648
Last Updated: 11/13/2020
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