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100 Elmer Avenue Burnet, TX 78611

3 Beds 2 Baths 1,384 sqft Built 2020

$224,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $162.50
  • 2 Days on Market
  • MLS # : 6147698
  • Updated Date : 11/07/2020 at 22:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,384 sqft
  • Baths : 2 full
Listing Agent

Langley Realty Group

Listing Agent's Description

New 3/2 home with open floor plan on corner lot. Move in ready March 2021. Granite tops in the kitchen and bathrooms, custom built solid wood cabinets, upgraded wiring and breakers, stainless appliances, a large tiled master shower, sprinkler system and sod in front and side yards. Smart home features include Ring Video Door Bell, Schlage Encode Smart Lock, and a Honeywell Smart Thermostat. All these Smart Home devices can be controlled by the Brilliant Smart Home Control System included in the main area and master bedroom. The Brilliant Controllers will show you who is at the front door, control your lighting and work as an intercom system. LiftMaster Belt Driven Smart garage door opener is also included. If you don't like smart homes don’t worry, every smart home feature we install in our homes also work "old school." More plans and lots available. Broker is related to owner. Owner/Agent

SEE MORE

MARKET HIGHLIGHTS

  • Austin metro contributes to 8.4% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 in U.S. Cities attracting the most workers and a preferred destination for job movers (LinkedIn, August 2018; Glassdoor May 2018 )
  • Austin metro economy is worth over $153 billion in Gross Metro Product and projected to grow to $162 billion in 2019 (USMayors.org, 2018)
  • #2 in Top 10 cities for entrepreneurs and start-ups (Business.org, 2018)
  • #3 on Best Cities for Renters (Smart Asset, July 2018)
  • #1 in 125 Best Places to Live in the USA (U.S. News, 2019)
  • Austin metro employment growth is at 3.4% and predicted to grow at 2.9% in 2019 (USMayors.org, 2018)
  • Companies with headquarters and major regional presence in Austin: Dell, Whole Foods, Apple, AMD, IBM, Flextronics, Google, Facebook, National Instruments, and Freescale Semiconductor. Apple announced an investment of $1 billion in a new 133-acre campus in Austin accommodating an additional 5,000 employees.
  • Austin metro has 70% labor force participation rate, one of the highest in the nation and higher than the national rate 62.8% (USMayors.org, 2018)
  • Austin ranks #7 in total venture capital deals flow with $1.84 billion venture funding flowing in to the metro in 2019, an increase of 19.5% from the previous year (Crunchbase News, 2020)

PRICE & RENT TRENDS

Zip Code: 78611

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k237k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 78611

No Data Available.

* 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
Burnet High School High Regular 892 59 3

Burnet High School

  • Education Level: High
  • # of students: 892
  • # of teachers: 59
3
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$830
Property Tax -$317
Property Insurance -$104
HOA -$13
Property Management Fees -$118
CASH FLOW
$89

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$224,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,599

INVESTMENT

$61,599

Down Payment
$56,225
Rehab Estimate
$2,000
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,464

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4703$1,5504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 100 Elmer Avenue Burnet, TX 2
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.06
    •  
  • 145 Ellis Burnet, TX 1
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2018
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.02
    •  
  • 700 S Vanderveer St Burnet, TX 3
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2003
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 700 S Vanderveer Street Burnet, TX 4
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2003
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 129 Rylee Road Burnet, TX 5
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2020
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
PROPERTY LISTING DETAILS
Ann Langley
1.512.734.3171
Langley Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6147698
Last Updated: 11/07/2020
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