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144 Miramar Circle Weatherford, TX 76085

3 Beds 2 Baths 1,833 sqft Built 2006

$300,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $163.67
  • 2 Days on Market
  • MLS # : 14488735
  • Updated Date : 12/19/2020 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,833 sqft
  • Baths : 2 full
Listing Agent

Indwell

Listing Agent's Description

ENJOY COUNTRY LIVING WITH NO HOA OR CITY TAXES! You'll love living in this well-maintained home nestled on 1.69 acres in Azle ISD. Cute home boasts open floorplan w breakfast bar opening to living room and split bedrooms. Private primary bedroom features beautiful trayed ceiling w crown and accent lighting, walk-in closets and soaking tub and separate tile shower. Other beds & bath split from primary. Lots of crown throughout! Enjoy backyard cookouts on covered patio overlooking backyard which includes a zip line & 10x24 work shop or storage building with electric. Fenced wooded area beyond backyard for goats & exploring. Come live the laid-back lifestyle Weatherford-Azle offers!! NEW ROOF & GUTTERS June 2019.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

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

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11081734

* 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
Cross Timbers Elementary School Primary Regular 509 30 7
Forte Junior High School Middle Regular 448 28 5
Azle High School High Regular 1,742 107 7

Cross Timbers Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 30
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,107
Property Tax -$638
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
-$37

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.

$300,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$13,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,952

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9403$2,190
$2,190
RENT COMPS ANALYSIS
  • 144 Miramar Circle Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.06
    •  
  • 175 Churchill Circle Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 2004
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 109 Blacktail Lane Azle, TX 3
    • 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
    •  
PROPERTY LISTING DETAILS
Michael Stephens
Indwell
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488735
Last Updated: 12/19/2020
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