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921 Elm Court Azle, TX 76020

3 Beds 2 Baths 1,423 sqft Built 1985

$220,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $155.24
  • 6 Days on Market
  • MLS # : 14494629
  • Updated Date : 01/05/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,423 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

COME TAKE A LOOK AT THIS BEAUTIFUL 1 STORY, 3 BEDROOM, 2 FULL BATHROOM HOME WITH A HUGE YARD! Inviting entry leads to the living room with vaulted beamed ceiling, bamboo type flooring, and a gorgeous wood mantel fireplace. The kitchen is open to the living room and features custom wood cabinetry, travertine backsplash, and stainless steel appliances. Step out to the large covered patio that looks out to the towering trees in the backyard. Perfect location to Eagle Mountain Lake, parks, and schools! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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

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
Cross Timbers Elementary School Primary Regular 509 30 7
Forte Junior High School Middle Regular 448 28 5
Azle High School High Regular 1,742 107 7

Cross Timbers Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 30
7
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
 

$198,810$242,990$220,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$767
Property Tax -$376
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$148

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.

$220,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.68%

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$800k

PROJECTED ANNUAL CASH FLOW

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

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$64,289

INVESTMENT

$64,289

Down Payment
$55,225
Rehab Estimate
$5,750
Closing Costs
$3,314

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$767

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,225
Loan Amount $165,675
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$22,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5954$1,6005$1,660
$1,660
RENT COMPS ANALYSIS
  • 921 Elm Court Azle, TX 1
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 804 Lake Crest Parkway Azle, TX 2
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1979
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 213 Pecan Street Azle, TX 3
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1978
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 800 Vickie Drive Azle, TX 4
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 776 Hunter Drive Azle, TX 5
    • 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.03
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494629
Last Updated: 01/05/2021
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