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700 Kriston Drive Azle, TX 76020

4 Beds 2 Baths 2,005 sqft Built 2006

$264,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $132.12
  • 3 Days on Market
  • MLS # : 14497593
  • Updated Date : 01/15/2021 at 16:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,005 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Newly Updated Home on huge corner lot has mortar smear and new paint on exterior of home while inside comes with 4 big bedroom's that each include walk-in closets, 2 updated bathrooms and a 2 car garage! living room has a fireplace, built-in desk and open concept to kitchen and dining area. Kitchen has new appliances and has an island! Home is just a mile from Eagle Mountain Lake, multiple parks and other rec areas. New carpet, fresh paint, new cedar fence, new stainless steel stove and dishwasher, new roof Oct. 2020. There is also a new shed on the side of the house for even more storage!

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
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$920
Property Tax -$576
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$212

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.

$264,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.74%

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$28,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,905

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,7504$1,8755$1,950
$1,950
RENT COMPS ANALYSIS
  • 700 Kriston Drive Azle, TX 5
    • 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 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
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 605 Madeline Court Azle, TX 2
    • 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
    •  
  • 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
Brandy Fausel
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497593
Last Updated: 01/15/2021
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