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636 Stribling Circle Azle, TX 76020

3 Beds 2 Baths 1,328 sqft Built 2004

$225,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $169.43
  • 2 Days on Market
  • MLS # : 14536946
  • Updated Date : 03/20/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,328 sqft
  • Baths : 2 full
Listing Agent

Weichert, Realtors, Team Realty, Springtown

Listing Agent's Description

Immaculate 3bdr 2bath 2 car garage. This comfortable home has an open floor plan with split bedrooms, kitchen island, separate pantry, and walk-in master closet. Great backyard with privacy, no house behind the property, just trees. Walk to the park, lake and schools. Quiet neighborhood. Great location!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$782
Property Tax -$489
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$134

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

$1,340

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

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 70% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,146

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
  • $1.01

    LIST RENT PER SQFT
  • $1,391

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3403$1,5504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 636 Stribling Circle Azle, TX 2
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.01
    •  
  • 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
    •  
  • 121 Dennis Drive Azle, TX 3
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 516 Harbor Crest Road Azle, TX 4
    • 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
    •  
  • 733 Stribling Circle Azle, TX 5
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 2005
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Deborah Cottongame
Weichert, Realtors, Team Realty, Springtown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536946
Last Updated: 03/20/2021
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