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629 Creekview Drive Azle, TX 76020

4 Beds 2 Baths 1,808 sqft Built 2017

$230,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $127.21
  • 3 Days on Market
  • MLS # : 14469281
  • Updated Date : 11/13/2020 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,808 sqft
  • Baths : 2 full
Listing Agent

The Property Shop

Listing Agent's Description

Beautiful, immaculate home on greenbelt! Fresh paint in kitchen, living and primary. New flooring in living and primary. Open concept kitchen offers grand eat-in island with granite countertops and spacious pantry. Brand new decorative light fixture in dining. Primary room has dual sinks, built-in shelves and walk-in closet. All carpet has been recently steamed. Enjoyable backyard offers a covered patio with serene views. Refrigerator and Vivint doorbell to convey. Short drive to Shady Grove Park at Eagle Mtn Lake, offering a walking trail, boating ramp, fishing pier and beach. Less than a mile to Cross Timbers Golf Course. Reasonable drive to shopping and dining in Lake Worth, Lockheed Martin and JRB.

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

Zip Code: 76020

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76020

ZipNIR 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
Silver Creek Elementary School Primary Regular 524 31 5
Azle Junior High School Middle Regular 465 27 6
Azle High School High Regular 1,742 107 7

Silver Creek Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 31
5
GreatSchools Rating

Azle Junior High School

  • Education Level: Middle
  • # of students: 465
  • # of teachers: 27
6
GreatSchools Rating

Azle High School

  • Education Level: High
  • # of students: 1,742
  • # of teachers: 107
7
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$849
Property Tax -$418
Property Insurance -$132
HOA -$29
Property Management Fees -$99
CASH FLOW
$223

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.

$230,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$34,628

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 629 Creekview Drive Azle, TX 3
    • 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 169 Bridlewood Street Azle, TX 1
    • 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2017
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 661 River Rock Drive Azle, TX 2
    • 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,778 Sqft ∙ Built 2017
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 648 River Rock Drive Azle, TX 4
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2016
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 120 Bridlewood Street Azle, TX 5
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2015
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
PROPERTY LISTING DETAILS
Maria Santiago
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469281
Last Updated: 11/13/2020
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