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648 Clearbrook Street Azle, TX 76020

3 Beds 2 Baths 1,396 sqft Built 2012

$214,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $153.94
  • 4 Days on Market
  • MLS # : 14521973
  • Updated Date : 02/26/2021 at 09:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,396 sqft
  • Baths : 2 full
Listing Agent

1st Choice Associates

Listing Agent's Description

Wow Get this home that looks new before it is gone. Kitchen adorned with ample cabinets and granite counters with an island. Master has a sit in shower, two sinks and double closets. Open floor plan, lined closet and coat closet in hallway. Home has nice flower beds ready to plant for Spring. A nice shortage shed added to back of house and a covered patio and un covered patio in backyard. Hurry this won't last. Multiple offers. Submit offers by 5pm Friday 26

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
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$746
Property Tax -$366
Property Insurance -$108
HOA -$21
Property Management Fees -$99
CASH FLOW
$50

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.

$214,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,5503$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 648 Clearbrook Street Azle, TX 1
    • 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,396 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.00
    •  
  • 516 Harbor Crest Road Azle, TX 2
    • 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
    •  
  • 800 Vickie Drive Azle, TX 3
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 649 Clearbrook Street Azle, TX 4
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2016
    property image
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 124 Bridlewood Street Azle, TX 5
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2012
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.14
    •  
PROPERTY LISTING DETAILS
Marlene Bone
1st Choice Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521973
Last Updated: 02/26/2021
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