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186 Lost Oak Drive Azle, TX 76020

3 Beds 2 Baths 2,141 sqft Built 2004

$390,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $182.16
  • 2 Days on Market
  • MLS # : 14516973
  • Updated Date : 03/07/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,141 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Serenity on 1.5 acres offers casual comfort w outdoor resort! Front & back porches frame this lovely home w all but game rm on level 1 featuring tile & wood floors & crown mldgs. Austin stone wraps brkfast bar & coordinated floor-to-ceiling fplc & hearth in open living area. Kitchen w abundant cabinetry & SS applcs incl drink fridge. Tranquil views are enjoyed from bold palladium windows incl cozy nook in substantial game rm. Glass block accent wall & window overlook secluded jet tub in mstr bath w dbl vanity & separate shower. Enormous stamped concrete covered patio w lavish outdoor kitchen (bar, grill, fridge & sink) & sparkling pool. Recently rplcd pool pump, roof, septic & well pumps+ H2O softener & heater.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,355
Property Tax -$664
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
-$189

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.

$390,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.53%

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-$6.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,120

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0803$2,190
$2,190
RENT COMPS ANALYSIS
  • 186 Lost Oak Drive Azle, TX 2
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.97
    •  
  • 1051 Wright Lane Azle, TX 1
    • 3 beds 2 baths ∙ 2,076 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,076 Sqft ∙ Built 2011
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 109 Blacktail Lane Azle, TX 3
    • 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,947 Sqft ∙ Built 2004
    property image
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.12
    •  
PROPERTY LISTING DETAILS
Andre S Kocher
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516973
Last Updated: 03/07/2021
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