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413 Timber Bay Court Azle, TX 76020

3 Beds 2 Baths 1,881 sqft Built 1986

$279,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $148.80
  • 2 Days on Market
  • MLS # : 14541725
  • Updated Date : 03/27/2021 at 12:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,881 sqft
  • Baths : 2 full
Listing Agent

Williams Trew Real Estate

Listing Agent's Description

Exceptionally maintained home with quaint, Chicago style brick on GORGEOUS treed lot with lush landscaping and serene courtyards. Interior is no less impressive with updated kitchen with new cooktop and oven, and new Quartz countertops, spacious family room with vaulted ceilings and cozy, wood-burning fireplace. Newer bamboo wood flooring throughout much of the home, fresh wall paint, and updated master bath. Nestled amid gorgeous trees on cul-de-sac street with great views of Eagle Mountain Lake. Quiet neighborhood that offers easy access to Hwy 199 for quick commute to Fort Worth.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Timberlake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k273k

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

Neighborhood: Timberlake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9121921

* 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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$972
Property Tax -$609
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$246

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.

$279,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.2%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5704$1,875
$1,875
RENT COMPS ANALYSIS
  • 413 Timber Bay Court Azle, TX 3
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.83
    •  
  • 1024 Oak Ridge Drive Azle, TX 1
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 1979
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 1101 New Meadow Drive Azle, TX 2
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2006
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 1317 Oak Harbor Boulevard Azle, TX 4
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 1988
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.98
    •  
PROPERTY LISTING DETAILS
Piper Pardue
Williams Trew Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541725
Last Updated: 03/27/2021
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