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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $210.06
- 4 Days on Market
- MLS # : 6114977
- Updated Date : 03/20/2021 at 06:11
CONSTRUCTION
- Beds : 3
- Floor Size : 1,571 sqft
- Baths : 2 full , 1 half
Listing Agent
Pure Gold Realty
Listing Agent's Description
Beautiful 3 bedroom and 2.5 bath home in South Austin. This property is perfect for investors as it comes with tenants through July 2022. Do not miss out on this opportunity to purchase your investment property locked and loaded with tenants in place.
SEE MORE
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Southeast Austin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southeast Austin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,810 |
| EXPENSES | Loan Payment | -$1,146 |
| Property Tax | -$649 | |
| Property Insurance | -$116 | |
| HOA | -$30 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$230
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$330,000
PROJECTED PRICE
$1,810
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.79% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.13% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$93,200
LOAN DETAILS
$1,146
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $82,500 |
| Loan Amount | $247,500 |
1.5
YEARS SAVED
$2,734
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,810
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$1,803
COMP ESTIMATED VALUE -
$1.15
COMP AVG. RENT PER SQFT
Comps Range
-
10120 Crescendo Lane Austin, TX 5
- 3 beds 3 baths ∙ 1,571 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,571 Sqft ∙ Built 2016
- Rent
- Rent Per SQFT
- $1,810
- $1.15
-
10112 Crescendo Lane Austin, TX 1
- 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2016
LEASED 05/30/20- Rent
- Rent Per SQFT
- $1,650
- $1.13
-
10021 Gertrudis Loop Austin, TX 2
- 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2017
LEASED 08/08/20- Rent
- Rent Per SQFT
- $1,700
- $1.16
-
10128 Crescendo Lane Austin, TX 3
- 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2016
LEASED 01/27/21- Rent
- Rent Per SQFT
- $1,700
- $1.16
-
10021 Pinnacle Crest Loop Austin, TX 4
- 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2013
LEASED 12/01/20- Rent
- Rent Per SQFT
- $1,750
- $1.14
PROPERTY LISTING DETAILS
Pure Gold Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 6114977
Last Updated: 03/20/2021
