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370 Briar Oaks Lane Azle, TX 76020

4 Beds 2 Baths 2,432 sqft Built 2001

$209,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $86.31
  • 4 Days on Market
  • MLS # : 14487890
  • Updated Date : 12/17/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,432 sqft
  • Baths : 2 full
Listing Agent

Ace Realty Partners

Listing Agent's Description

Luxurious remodel on acreage in Azle! Come see this fantastic property that is perfect for the buyer that both wants amenities as well as wide open spaces! This house features 4 bedrooms, 2 bathrooms, 2 living rooms, a full-size laundry room, AND an additional bonus room attached to the primary bedroom that can serve as an office, nursery, home gym, you name it! The primary bedroom also boasts a HUGE walk-in closet, as well as a walk-in shower and separate bathtub. You'll love curling up by the fireplace and watching the sunset over your beautiful 1.4 acre back yard...schedule your showing today!

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: 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
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
 

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

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$774
Property Tax -$385
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
$304

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.

$209,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.82%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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

11.5

YEARS SAVED

$42,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,800
$1,800
RENT COMPS ANALYSIS
  • 370 Briar Oaks Lane Azle, TX 1
    • 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.71
    •  
  • 312 Prairie Lane Azle, TX 2
    • 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 2001
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
PROPERTY LISTING DETAILS
Bailey Rentz
Ace Realty Partners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487890
Last Updated: 12/17/2020
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