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109 Spur Cove Kyle, TX 78640

3 Beds 3 Baths 2,167 sqft Built 2005

$225,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $103.83
  • 4 Days on Market
  • MLS # : 9731386
  • Updated Date : 12/18/2020 at 20:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,167 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tetra Properties, Inc.

Listing Agent's Description

No showings until 12/21 noon+... Great opportunity to live/own in Silverado at Plum Creek neighborhood. Home needs remodel, much needs addressing, but great bones and fabulous location. All appointments will be through listing agent, booked every 30 minutes . See showing remarks. Great 2 story on culdesac lot with no neighbors behind! Master bedroom is on main floor, with addl' bedrooms up with addl' living up. Any and All offers will be reviewed Wednesday 12/23 at 3PM Be sure to complete and sign Covid disclosure prior to confirming showing.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Kyle Elementary School Primary Regular 652 41 3
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Kyle Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 41
3
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$830
Property Tax -$518
Property Insurance -$149
HOA -$28
Property Management Fees -$99
CASH FLOW
-$84

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.

$225,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5403$1,6004$1,695
$1,695
RENT COMPS ANALYSIS
  • 109 Spur Cove Kyle, TX 2
    • 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.71
    •  
  • 252 San Felipe Dr Kyle, TX 1
    • 3 beds 3 baths ∙ 2,044 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,044 Sqft ∙ Built 2004
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.72
    •  
  • 118 Palo Duro Cove Kyle, TX 3
    • 3 beds 3 baths ∙ 2,286 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,286 Sqft ∙ Built 2003
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 115 Spur Cv Kyle, TX 4
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2004
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
PROPERTY LISTING DETAILS
Beatsy Nolen
1.512.844.1977
Tetra Properties, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9731386
Last Updated: 12/18/2020
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