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312 Lakeside Drive Azle, TX 76020

4 Beds 2 Baths 2,027 sqft Built 2020

$298,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $147.46
  • 2 Days on Market
  • MLS # : 14499846
  • Updated Date : 01/15/2021 at 20:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,027 sqft
  • Baths : 2 full
Listing Agent

Inet Realty, Llc

Listing Agent's Description

RARE, Brand New 2021 4-2-2 single story home on over HALF ACRE LOT, with oversized garage and NO HOA! Spacious family room w-stone WBFP that opens into the 2 island gourmet kitchen featuring stainless steel appliances, granite c.tops, GAS range & lg pantry. Elegant master suite w-att bathroom w-granite, has separate shower & tub with tile surround, dual sinks, & walk in closet. Secondary bedrooms are a great size & also have walk in closets. Large covered patio to add your private deck for family gatherings. Huge backyard that would accommodate a workshop or storage for an RV. With NO HOA oh the possibilities! Additionally includes full sprinkler system, full sod, radiant barrier & gas water heater.

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

Neighborhood: Castle Hill Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $71k243k

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

Neighborhood: Castle Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6761734

* 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
Eagle Heights Elementary School Primary Regular 478 29 6
Azle Junior High School Middle Regular 465 27 6
Azle High School High Regular 1,742 107 7

Eagle Heights Elementary School

  • Education Level: Primary
  • # of students: 478
  • # of teachers: 29
6
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
 

$269,010$328,790$298,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,038
Property Tax -$650
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
-$412

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.

$298,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.51%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

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$81,209

INVESTMENT

$81,209

Down Payment
$74,725
Rehab Estimate
$2,000
Closing Costs
$4,484

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,038

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,725
Loan Amount $224,175
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$14

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,034

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,7503$1,7504$1,795
$1,795
RENT COMPS ANALYSIS
  • 312 Lakeside Drive Azle, TX 1
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.75
    •  
  • 1357 Briarwood Drive Azle, TX 2
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    property image
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 1341 Briarwood Drive Azle, TX 3
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 1104 Forest Glen Drive Azle, TX 4
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2017
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
PROPERTY LISTING DETAILS
Daniel Nawar
Inet Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499846
Last Updated: 01/15/2021
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