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605 Oak View Court Azle, TX 76020

3 Beds 2 Baths 1,815 sqft Built 2000

INVESTimate

$219,900

List Price

$1,670

$1,503 - $1,837

Rent Est.

$237,184  ( +7.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $121.16
  • 4 Days on Market
  • MLS # : 14418752
  • Updated Date : 08/23/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,815 sqft
  • Baths : 2 full
Listing Agent

Barcode Properties

Listing Agent's Description

Come see this beautiful 3bed 2 bath, Just 5 mins or less from Azle high school, Azle Jr high school and Walnut Creek Elementary. This 1800 sqft home features an extra living space that could easily be a game room or office. Hardwood floors run throughout the living room, kitchen and bedrooms. The kitchen is recently remodeled with electric appliances. The backyard also features plenty of space to entertain along with a brick firepit.

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: Oak View Place North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Oak View Place North

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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$811
Property Tax -$478
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$149

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.

$219,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.86%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$25,130

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5954$1,6505$1,670
$1,670
RENT COMPS ANALYSIS
  • 605 Oak View Court Azle, TX 5
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.92
    •  
  • 1787 Rhonda B Road Azle, TX 1
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1995
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 733 Stribling Circle Azle, TX 2
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 605 Madeline Court Azle, TX 3
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2019
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 648 Oak View Court Azle, TX 4
    • 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,672 Sqft ∙ Built 2000
    property image
    LEASED 04/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Bailee Padilla
Barcode Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418752
Last Updated: 08/23/2020
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