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1015 Aiken Drive Leander, TX 78641

3 Beds 2 Baths 1,389 sqft Built 2007

$250,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $179.99
  • 4 Days on Market
  • MLS # : 6980285
  • Updated Date : 11/08/2020 at 03:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,389 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Cozy One Story Home. Close and convenient to all Leander has to offer. Open floorplan, Kitchen includes breakfast area and also overlooks the Living room. Tile floors through Living room and Kitchen, Vinyl Plank floors in bedrooms. Custom paint throughout. Covered porch in the backyard, great for entertaining. Washer/Dryer/Refrigerator negotiable.

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Plain Elementary School Primary Regular 850 55 5
Wiley Middle School Middle Regular 967 63 8
Glenn High School High Unknown NA

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$922
Property Tax -$578
Property Insurance -$105
HOA -$41
Property Management Fees -$124
CASH FLOW
-$221

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.

$250,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,556

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5503$1,5754$1,595
$1,595
RENT COMPS ANALYSIS
  • 1015 Aiken Drive Leander, TX 2
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 1014 Gentry Drive Leander, TX 1
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 2007
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.12
    •  
  • 1004 Gentry Drive Leander, TX 3
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 2007
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.16
    •  
  • 1006 Aiken Dr Leander, TX 4
    • 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 2008
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.08
    •  
PROPERTY LISTING DETAILS
Dawn Reswik
1.512.633.7079
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6980285
Last Updated: 11/08/2020
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