Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

416 Misty Oaks Street Azle, TX 76020

3 Beds 2 Baths 1,497 sqft Built 1986

$249,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $166.33
  • 2 Days on Market
  • MLS # : 14525818
  • Updated Date : 03/06/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,497 sqft
  • Baths : 2 full
Listing Agent

Leah Dunn Real Estate Group

Listing Agent's Description

Great home on interior lot. Stainless steel appliances, wood laminate flooring, split bedrooms with spacious floor plan and more! This home is a short distance of the schools and parks. Conveniently located near both highway FM730 and Jacksboro Highway. Priced Right! You don't want to miss this - it won't last!

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: Lake Crest Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Lake Crest Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9041734

* 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
Walnut Creek Elementary School Primary Regular 510 28 6
Forte Junior High School Middle Regular 448 28 5
Azle High School High Regular 1,742 107 7

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 510
  • # of teachers: 28
6
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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$865
Property Tax -$542
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$159

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.

$249,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5503$1,5954$1,6005$1,660
$1,660
RENT COMPS ANALYSIS
  • 416 Misty Oaks Street Azle, TX 1
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.98
    •  
  • 516 Harbor Crest Road Azle, TX 2
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2006
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 213 Pecan Street Azle, TX 3
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1978
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 733 Stribling Circle Azle, TX 4
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 776 Hunter Drive Azle, TX 5
    • 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.03
    •  
PROPERTY LISTING DETAILS
Leah Dunn
Leah Dunn Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525818
Last Updated: 03/06/2021
BESbswy