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10040 Aly May Drive Austin, TX 78748

3 Beds 3 Baths 1,865 sqft Built 2014

$350,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $187.67
  • 5 Days on Market
  • MLS # : 7484760
  • Updated Date : 10/30/2020 at 23:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,865 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Located in Hollow at Slaughter Creek, this immaculately maintained open concept home features crown molding and granite countertops throughout, stainless steel appliances, covered back patio prefect for entertaining, spacious main level owner’s suite with tray ceiling and oversized shower, bonus upstairs landing perfect for playroom, office, home theater or homeschool. Minutes to South Park Meadows shopping & restaurants, Moon Tower, and more. Easy commute to IH 35 and Mopac. Come see this beautiful home! FEMA UNKNOWN.

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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

Neighborhood: Lynnbrook and Searight Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $125k378k

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

Neighborhood: Lynnbrook and Searight Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9372086

* 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
Casey Elementary School Primary Regular 665 44 5
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Casey Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 44
5
GreatSchools Rating

Paredes Middle School

  • Education Level: Middle
  • # of students: 1,032
  • # of teachers: 69
4
GreatSchools Rating

Akins High School

  • Education Level: High
  • # of students: 2,667
  • # of teachers: 155
4
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,291
Property Tax -$688
Property Insurance -$132
HOA -$28
Property Management Fees -$168
CASH FLOW
-$208

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.

$350,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,489

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 10040 Aly May Drive Austin, TX 5
    • 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.13
    •  
  • 10032 Aly May Drive Austin, TX 1
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2014
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.14
    •  
  • 1405 Middlefield Court Austin, TX 2
    • 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,944 Sqft ∙ Built 2012
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
  • 10025 Aly May Dr Austin, TX 3
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2015
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.15
    •  
  • 9921 Wading Pool Path Austin, TX 4
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2012
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
PROPERTY LISTING DETAILS
Kristen Williams
1.512.699.2984
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7484760
Last Updated: 10/30/2020
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