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600 Inwood Road Azle, TX 76020

3 Beds 2 Baths 1,248 sqft Built 1996

$192,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $153.85
  • 5 Days on Market
  • MLS # : 14520590
  • Updated Date : 02/25/2021 at 11:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

Marsha Hardin Real Estate Llc

Listing Agent's Description

SUPER CUTE 3 bedroom, 2 bath home ready for move in! Beautiful bamboo wood floors in living and dining. Wood burning fireplace. Tile countertops in kitchen. Stainless steel appliances. Comes with refrigerator, washer and dryer. Big backyard with large wood deck. Great for entertaining and cookouts! Close to Shady Grove Park with beach and boat access to Eagle Mountain Lake. Coveted Walnut Creek Elementary school zone. MULTIPLE OFFERS. SUBMIT HIGHEST AND BEST OFFER BY MONDAY, MAR. 01, BY 11:00 AM.

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: 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
 

$172,800$211,200$192,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$667
Property Tax -$418
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
$57

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.

$192,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.70%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,630

INVESTMENT

$56,630

Down Payment
$48,000
Rehab Estimate
$5,750
Closing Costs
$2,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,000
Loan Amount $144,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$12,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,342

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3403$1,5504$1,6005$1,625
$1,625
RENT COMPS ANALYSIS
  • 600 Inwood Road Azle, TX 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.07
    •  
  • 844 James Street Azle, TX 1
    • 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1984
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.08
    •  
  • 516 Harbor Crest Road Azle, TX 3
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2006
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 537 Harbor Crest Road Azle, TX 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2005
    property image
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 132 Parkwood Court Azle, TX 5
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2006
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.14
    •  
PROPERTY LISTING DETAILS
Marsha Hardin
Marsha Hardin Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520590
Last Updated: 02/25/2021
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