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102 Cannery Cove Leander, TX 78641

3 Beds 3 Baths 2,194 sqft Built 2002

$275,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $125.34
  • 4 Days on Market
  • MLS # : 2531720
  • Updated Date : 02/06/2021 at 20:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,194 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Austin

Listing Agent's Description

Move-in-ready 3 bedroom, 2.5 bathroom home with two living areas in Leander ISD. The owner's suite is HUGE complete with massive closet and sitting area that could also be used as an office space. Carrier infinity series HVAC system installed recently along with several windows (couple on order to be replaced too) Covered back patio, level backyard with fire pit and fully fenced! You will love that the property backs onto a greenbelt. Outstanding community amenities including pool, sport fields/courts, covered picnic areas and more!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $125k298k

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211744

* 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
Pleasant Hill Elementary School Primary Regular 844 59 4
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Pleasant Hill Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 59
4
GreatSchools Rating

Wiley Middle School

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

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$955
Property Tax -$636
Property Insurance -$151
HOA -$26
Property Management Fees -$99
CASH FLOW
-$257

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.

$275,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.7%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6253$1,7244$1,750
$1,750
RENT COMPS ANALYSIS
  • 102 Cannery Cove Leander, TX 1
    • 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,194 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.73
    •  
  • 105 Lombard Drive Leander, TX 2
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2001
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.72
    •  
  • 504 Kathleen Ln Leander, TX 3
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 1986
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,724
    • $0.79
    •  
  • 2114 Garrison Dr Leander, TX 4
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2002
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
PROPERTY LISTING DETAILS
Cyndi Cummings
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2531720
Last Updated: 02/06/2021
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