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516 Harbor Crest Road Azle, TX 76020

3 Beds 2 Baths 1,501 sqft Built 2006

$225,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $149.90
  • 2 Days on Market
  • MLS # : 14463482
  • Updated Date : 11/02/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,501 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Adorable 3 bedroom, 2 bath one-story home in Azle. Charming neighborhood with country feel! This one owner well-maintained home features an open concept design which makes it great for entertaining. The galley style Kitchen is inviting and features a convenient dining area. The Master suite is split from the other bedroom and offers a walk-in closet, garden tub and separate shower. Home is located on a peaceful street and features a large back yard with privacy fence. You will enjoy relaxing on the private covered patio. New air conditioning system to be installed before closing. Bring your buyers to this great home.

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: Stribling Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Stribling Square

NeighborhoodNIR 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
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$830
Property Tax -$489
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$22

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.

$225,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.8%
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$6.0k$8.0k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,900

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,520

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5103$1,5504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 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
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.01
    •  
  • 733 Stribling Circle Azle, TX 1
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 121 Dennis Drive Azle, TX 3
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 128 Dennis Drive Azle, TX 4
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2020
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 720 Kriston Drive Azle, TX 5
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2007
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Michael Garner
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463482
Last Updated: 11/02/2020
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