520 Lake Crest Pkwy · Azle, TX 76020

$169,000

3 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 47 Days on market

Built 1982 0.40 ac lot $167/sqft · 21% below area Est $214k · 21% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• 1% rule +4.8/10.0
• DSCR +4.4/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 520 Lake Crest Parkway—an inviting, well-maintained single-story home nestled in the heart of Azle. This charming 3-bedroom, 1-bath residence offers comfort, functionality, and great value, making it perfect for first-time buyers, downsizers, or anyone looking for a move-in-ready property. Step inside to a warm and welcoming layout featuring a spacious living area ideal for relaxing or entertaining. The home boasts three nicely sized bedrooms with plenty of natural light, along with a clean and well-kept bathroom. The kitchen offers ample cabinet space and flows seamlessly into the main living areas, creating a practical and efficient floor plan. Outside, you'll find a 1-car garage and a yard with plenty of potential for outdoor enjoyment, gardening, or future customization. Pride of ownership is evident throughout, with the home being consistently cared for and maintained. Conveniently located with easy access to local schools, shopping, and dining, this home offers the perfect blend of small-town charm and everyday convenience. Don’t miss your opportunity to make this lovely home yours!

Key facts

• Spacious living area
• Yard with potential
• Ample cabinet space

Tags

• SINGLE-STORY HOME
• SPACIOUS LIVING AREA
• AMPLE CABINET SPACE
• 1-CAR GARAGE
• YARD WITH POTENTIAL
• EASY ACCESS TO LOCAL SCHOOLS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $33 ($396/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (1.9% below list).
• Recommended offer: $164k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.1% in Azle — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#267 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: schools C-, health & safety D+, amenities F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 591 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $31k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• GRM: 8.5

CMA / ARV

• ARV (median comp): $213,724
• List price: $169,000
• Delta: -20.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 Lake Crest Pkwy	0.00mi	3/1.0	1,014 (0%)	0mo	$169,000	$167	100
500 Lake Crest Pkwy	0.07mi	3/2.0	996 (-2%)	5mo	$199,900	$201	86
404 Inwood Rd	0.19mi	3/2.0	940 (-7%)	14mo	$159,900	$170	63
415 Kimbrough Rd	0.37mi	3/2.0	1,052 (+4%)	21mo	$232,000	$221	55
1002 Oakchase Ct	0.63mi	3/2.0	1,060 (+4%)	9mo	$260,000	$245	51
412 Kimbrough Rd	0.40mi	3/1.5	891 (-12%)	10mo	$198,000	$222	51
617 Alfred Dr	0.62mi	3/2.0	1,064 (+5%)	11mo	$235,000	$221	50
800 Red Oak Ct	0.68mi	3/1.0	1,065 (+5%)	19mo	$219,000	$206	44
816 Red Oak Ct	0.70mi	3/2.0	1,094 (+8%)	10mo	$210,000	$192	42
112 Dennis Dr	0.58mi	3/2.0	1,115 (+10%)	14mo	$239,500	$215	40
116 Lynn Dr	0.73mi	3/1.0	1,128 (+11%)	21mo	$212,000	$188	30
840 Red Oak Ct	0.73mi	3/2.5	1,155 (+14%)	13mo	$240,000	$208	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-26,337
• Equity at exit: $25,198

10-year hold

• IRR: -8.6%
• Equity multiple: 0.48×
• Total profit: $-24,484
• Equity at exit: $14,612

Cash invested: $47,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 591
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,658 high
• Mortgage (P&I): −$886
• Tax from tax record: −$320 /mo · $3,840/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $33

Break-even live

Break-even rent $1,616

Max offer price $169,000

Occupancy floor 93%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
745 Timberoaks Dr Azle, TX	3.0	2.0	1304	$1,865	$1.43	3d	1	0.35mi
700 Stribling Cir Azle, TX	3.0	2.0	1311	$1,659	$1.27	17d	1	0.48mi
525 Commerce St Azle, TX	1.0–3.0	1.0–2.0	852	$1,405	$1.65	1d	1	0.48mi
424 Lochridge Dr Unit 424 Azle, TX	3.0	2.0	1182	$1,575	$1.33	12d	1	0.53mi
515 W Main St Azle, TX	2.0	1.0	1080	$1,250	$1.16	43d	1	0.53mi
519 W Main St Azle, TX	2.0	1.0	721	$1,150	$1.60	1d	1	0.54mi
527 W Main St Apt 40 Azle, TX	2.0	1.0	1080	$1,250	$1.16	43d	1	0.58mi
728 Poe St Azle, TX	3.0	2.0	1249	$1,675	$1.34	24d	1	0.61mi
1021 Timberoaks Dr Azle, TX	1.0–2.0	1.0–1.5	792	$1,250	$1.58	1d	16	0.66mi
108 Parkwood Ct Azle, TX	3.0	2.0	1226	$1,899	$1.55	2d	1	0.82mi
220 School St Azle, TX	3.0	2.0	1423	$1,895	$1.33	43d	1	0.82mi
1002 N Stewart St Azle, TX	3.0	1.0	1119	$1,400	$1.25	43d	1	0.86mi
912 Red Bud Dr Azle, TX	3.0	1.0	1378	$1,750	$1.27	1d	1	0.92mi
1032 Greg St Azle, TX	2.0	2.0	1200	$1,695	$1.41	18d	1	1.15mi
1329 Fox Hollow Ct Azle, TX	2.0	1.0	924	$900	$0.97	6d	1	1.47mi
819 Keli Ct Azle, TX	3.0	2.0	1082	$1,600	$1.48	18d	1	1.50mi

Listing history 15 events

1. 2026-06-08
   statusdays on market $169,000 Pending 47 DOM
2. 2026-06-07
   days on market $169,000 Active Option Contract 46 DOM
3. 2026-06-04
   days on market $169,000 Active Option Contract 43 DOM
4. 2026-06-03
   days on market $169,000 Active Option Contract 42 DOM
5. 2026-06-02
   days on market $169,000 Active Option Contract 41 DOM
6. 2026-06-01
   days on market $169,000 Active Option Contract 40 DOM
7. 2026-05-31
   days on market $169,000 Active Option Contract 39 DOM
8. 2026-05-18
   price $179,000 1129-char remark

   Show marketing remark (1129 chars)

   Welcome to 520 Lake Crest Parkway—an inviting, well-maintained single-story home nestled in the heart of Azle. This charming 3-bedroom, 1-bath residence offers comfort, functionality, and great value, making it perfect for first-time buyers, downsizers, or anyone looking for a move-in-ready property. Step inside to a warm and welcoming layout featuring a spacious living area ideal for relaxing or entertaining. The home boasts three nicely sized bedrooms with plenty of natural light, along with a clean and well-kept bathroom. The kitchen offers ample cabinet space and flows seamlessly into the main living areas, creating a practical and efficient floor plan. Outside, you'll find a 1-car garage and a yard with plenty of potential for outdoor enjoyment, gardening, or future customization. Pride of ownership is evident throughout, with the home being consistently cared for and maintained. Conveniently located with easy access to local schools, shopping, and dining, this home offers the perfect blend of small-town charm and everyday convenience. Don’t miss your opportunity to make this lovely home yours!

9. 2026-05-11
   price $189,000 1129-char remark

   Show marketing remark (1129 chars)

   Welcome to 520 Lake Crest Parkway—an inviting, well-maintained single-story home nestled in the heart of Azle. This charming 3-bedroom, 1-bath residence offers comfort, functionality, and great value, making it perfect for first-time buyers, downsizers, or anyone looking for a move-in-ready property. Step inside to a warm and welcoming layout featuring a spacious living area ideal for relaxing or entertaining. The home boasts three nicely sized bedrooms with plenty of natural light, along with a clean and well-kept bathroom. The kitchen offers ample cabinet space and flows seamlessly into the main living areas, creating a practical and efficient floor plan. Outside, you'll find a 1-car garage and a yard with plenty of potential for outdoor enjoyment, gardening, or future customization. Pride of ownership is evident throughout, with the home being consistently cared for and maintained. Conveniently located with easy access to local schools, shopping, and dining, this home offers the perfect blend of small-town charm and everyday convenience. Don’t miss your opportunity to make this lovely home yours!

10. 2026-04-22
    listed $199,900 Active 1129-char remark

    Show marketing remark (1129 chars)

    Welcome to 520 Lake Crest Parkway—an inviting, well-maintained single-story home nestled in the heart of Azle. This charming 3-bedroom, 1-bath residence offers comfort, functionality, and great value, making it perfect for first-time buyers, downsizers, or anyone looking for a move-in-ready property. Step inside to a warm and welcoming layout featuring a spacious living area ideal for relaxing or entertaining. The home boasts three nicely sized bedrooms with plenty of natural light, along with a clean and well-kept bathroom. The kitchen offers ample cabinet space and flows seamlessly into the main living areas, creating a practical and efficient floor plan. Outside, you'll find a 1-car garage and a yard with plenty of potential for outdoor enjoyment, gardening, or future customization. Pride of ownership is evident throughout, with the home being consistently cared for and maintained. Conveniently located with easy access to local schools, shopping, and dining, this home offers the perfect blend of small-town charm and everyday convenience. Don’t miss your opportunity to make this lovely home yours!

11. 2004-02-11
    soldstatus
12. 2004-01-22
    historical
13. 2003-11-13
    listed $79,900
14. 1996-01-29
    soldstatus
15. 1983-06-09
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,840 · $320/mo
• Projected year-2 tax: $3,840 · $320/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,893
• − Mortgage interest: −$9,467
• − Property taxes: −$3,840
• − Insurance: −$845
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$4,916
• Taxable loss: −$2,358
• Est. tax savings @ 24.0%: +$566
• After-tax cash flow: $961/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Azle

• Score: 72/100
• State rank: #267
• US rank: #6239

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment A Housing A+ Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Azle, TX
• County: Parker County · 144,797 people
• City population: 34,602
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

Population outlook (Tarrant County) Hauer SSP2

• Today (2025): 2,380,417 people
• By 2030: 2,578,900 · +8.3%
• By 2040: 2,974,995 · +25.0%
• By 2050: 3,350,489 · +40.8%
• By 2075: 4,216,909 · +77.2%
• By 2100: 4,741,527 · +99.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

Political lean MEDSL · Tarrant

• 2024 margin: Lean R (+5.1) · D 46.7% · R 51.9% · Other 1.4%
• 2008→2024 swing: +6.6pp toward D · 2008: -11.7pp · 2024: -5.1pp
• All cycles: 2024: R+5.1 2020: D+0.2 2016: R+8.7 2012: R+15.7 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+124.0% since first listed

8 events — show timeline

• 2026-05-18 Price Changed $179,000 NTREIS
• 2026-05-11 Price Changed $189,000 NTREIS
• 2026-04-22 Listed $199,900 NTREIS
• 2004-02-11 Sold (Public Records) — Public Records
• 2004-01-22 Listing Removed — NTREIS
• 2003-11-13 Listed $79,900 NTREIS
• 1996-01-29 Sold (Public Records) — Public Records
• 1983-06-09 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,840 · -4.9% YoY. Source: county tax records.