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3832 Azure Lane Addison, TX 75001

3 Beds 2 Baths 2,001 sqft Built 1991

$469,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $234.83
  • 4 Days on Market
  • MLS # : 14452083
  • Updated Date : 11/26/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,001 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

All you have to do is move in... one story with major remodel throughout the entire home! Kitchen blowout and expansion featuring high-grade granite, soft close cabinets, stainless appliances, abundant overhead lighting, etc. Home interior has been completely repainted with designer colors. All flooring replaced in office, dining, kitchen, living, and master with hand-scraped hardwoods. Master bath gutted and repurposed with oversized frameless shower and multiple massage jets. Walk to the end of the street and you have arrived at the Addison Athletic Club, community garden and miles of interconnected walking trail network. Super high efficiency HVAC replaced 2014. Roof replaced 2019. Turnkey. Hurry!

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

Neighborhood: Addison

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k363k

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

Neighborhood: Addison

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262409

* 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
George Herbert Walker Bush Elementary School Primary Regular 667 41 NA
E.d. Walker Middle School Middle Regular 748 46 3
W. T. White High School High Regular 2,290 134 4

George Herbert Walker Bush Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 41
NA
GreatSchools Rating

E.d. Walker Middle School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 46
3
GreatSchools Rating

W. T. White High School

  • Education Level: High
  • # of students: 2,290
  • # of teachers: 134
4
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,734
Property Tax -$1,025
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$511

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.

$469,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$10k-$5.0k$0.0$5.0k

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$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,641

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3953$2,4904$2,5005$2,850
$2,850
RENT COMPS ANALYSIS
  • 3832 Azure Lane Addison, TX 3
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.24
    •  
  • 14588 Whitman Court Addison, TX 1
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 1994
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.23
    •  
  • 4102 Rush Circle Addison, TX 2
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1980
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.27
    •  
  • 3777 Meadowcreek Circle Addison, TX 4
    • 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1993
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.28
    •  
  • 3801 Chatham Court Drive Addison, TX 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 1993
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.50
    •  
PROPERTY LISTING DETAILS
David Heape
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14452083
Last Updated: 11/26/2020
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