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10401 Garbacz Drive Austin, TX 78748

4 Beds 2 Baths 1,680 sqft Built 2001

$299,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $178.51
  • 3 Days on Market
  • MLS # : 2893270
  • Updated Date : 11/02/2020 at 03:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Center Point Realty Company

Listing Agent's Description

Sharply renovated 4/2 with a new roof, freshly painted interior and exterior, new laminate flooring through the downstairs and new carpet upstairs. Completely remodeled eat-in kitchen with shaker-style cabinets, granite countertops, stainless steel appliances, and modern touches like floating shelves, black cabinet hardware and a black sink faucet. Kitchen also features a walk-in pantry. Living room is large enough to accommodate a formal dining table and upstairs boasts a loft area for extra living space or a home office. The master bathroom and shared bathroom both have new, modern tile flooring and contemporary vanities, lighting, and mirrors. The backyard features a brand new deck, a shaded pergola, and two peach trees. With no back neighbors, this yard is the perfect space to relax and entertain. Located just 10 minutes from the Southpark Meadows shopping center and 10 minutes from 3 major highways, this home is a gem in the heart of South Austin!

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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: Saddlewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $95k378k

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

Neighborhood: Saddlewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8451966

* 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
Kocurek Elementary School Primary Regular 539 35 4
Bailey Middle School Middle Regular 917 58 6
Akins High School High Regular 2,667 155 4

Kocurek Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 35
4
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 58
6
GreatSchools Rating

Akins High School

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

$269,910$329,890$299,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,107
Property Tax -$590
Property Insurance -$122
Property Management Fees -$140
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.

$299,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7504$1,7995$1,850
$1,850
RENT COMPS ANALYSIS
  • 10401 Garbacz Drive Austin, TX 3
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 10501 Garbacz Drive Austin, TX 1
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 10737 Marshitahs Way Austin, TX 2
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2000
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 10328 Garbacz Dr Austin, TX 4
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2001
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.07
    •  
  • 1708 Rockland Drive #177 Austin, TX 5
    • 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 2010
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
PROPERTY LISTING DETAILS
Maria Navarro
1.210.781.0651
Center Point Realty Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2893270
Last Updated: 11/02/2020
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