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103 Thackery Court Lakeway, TX 78734

3 Beds 3 Baths 2,630 sqft Built 2001

$510,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $193.92
  • 3 Days on Market
  • MLS # : 9027325
  • Updated Date : 02/13/2021 at 01:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,630 sqft
  • Baths : 2 full , 1 half
Listing Agent

Austintatious512

Listing Agent's Description

Enjoy the Lakeway proper lifestyle that is steps away from the city park with trails and outdoor activity. Lake is a short drive with many options to include boating/water sports. All bedrooms up, large office and half bath down. Office could be converted to 4th bedroom if desired. Open concept with lots of natural light and high ceilings. Backyard is all concrete patio surrounding inground pool/spa and light landscaping. Cul-de-sac lot, fenced for privacy.

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

Neighborhood: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k540k

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

Neighborhood: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9972987

* 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
Serene Hills Elementary School Primary Regular 762 46 10
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Serene Hills Elementary School

  • Education Level: Primary
  • # of students: 762
  • # of teachers: 46
10
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,771
Property Tax -$999
Property Insurance -$175
Property Management Fees -$99
CASH FLOW
-$124

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.

$510,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,975

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,952

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9203$2,9954$3,000
$3,000
RENT COMPS ANALYSIS
  • 103 Thackery Court Lakeway, TX 2
    • 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.11
    •  
  • 104 Indian Bend Drive Lakeway, TX 1
    • 3 beds 3 baths ∙ 2,677 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,677 Sqft ∙ Built 1981
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.08
    •  
  • 620 Robin Dale Drive Lakeway, TX 3
    • 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 2000
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.15
    •  
  • 217 Bellagio Drive Lakeway, TX 4
    • 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2011
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.11
    •  
PROPERTY LISTING DETAILS
Laura Mcmillan
Austintatious512
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9027325
Last Updated: 02/13/2021
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