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625 Madeline Court Azle, TX 76020

4 Beds 2 Baths 2,062 sqft Built 2005

$239,999

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $116.39
  • 3 Days on Market
  • MLS # : 14488133
  • Updated Date : 12/19/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,062 sqft
  • Baths : 2 full
Listing Agent

Halo Group Realty, Llc

Listing Agent's Description

A great home in the heart of a growing community! Near Eagle Mountain Lake and Shady Grove Park, this home has it all. Beautiful 4 bedroom 2 bath home with new carpet in master and vaulted ceilings throughout. There are many memories to be made in this spacious home graced with a brick fireplace, split bedrooms, covered front and back porches, and a great storage workshop in the backyard. Master bedroom suite offers a garden tub, separate shower & double vanity.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$215,999$263,999$239,999

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$885
Property Tax -$522
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
$237

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.

$239,999

PROJECTED PRICE

$1,890

PROJECTED RENT

0.79%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $179,999
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$35,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,7504$1,8755$1,890
$1,890
RENT COMPS ANALYSIS
  • 625 Madeline Court Azle, TX 5
    • 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.92
    •  
  • 605 Madeline Court Azle, TX 1
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2019
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 1357 Briarwood Drive Azle, TX 2
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 1341 Briarwood Drive Azle, TX 3
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 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
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.98
    •  
PROPERTY LISTING DETAILS
Brooklyn Graves
Halo Group Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488133
Last Updated: 12/19/2020
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