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1102 S Brook Drive Leander, TX 78641

3 Beds 2 Baths 1,380 sqft Built 2011

$240,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $173.91
  • 3 Days on Market
  • MLS # : 1517515
  • Updated Date : 01/23/2021 at 23:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Re/max Premier

Listing Agent's Description

Wonderful 3 bedroom 2 bath located in the the popular Benbrook Ranch neighborhood! This home interior features include high ceilings, open floor plan, tons of natural light, separate master bedroom from secondary bedrooms, large kitchen with matching black appliances, and all hard surface flooring through out - except for carpet in all bedrooms. The backyard features a covered patio, level backyard, and a bit of distance between backyard neighbors. Close to major shopping, highways and the Leander Train Station. This one will not last long!

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

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
 

$216,000$264,000$240,000

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 -$834
Property Tax -$582
Property Insurance -$105
HOA -$35
Property Management Fees -$99
CASH FLOW
-$114

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.

$240,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.64%

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-$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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,820

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
  • $1.12

    LIST RENT PER SQFT
  • $1,539

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,5954$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 1102 S Brook Drive Leander, TX 1
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.12
    •  
  • 1005 Ranchero Rd Leander, TX 2
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 2010
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 1125 Waterfall Avenue Leander, TX 3
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2019
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.11
    •  
  • 1007 Barclay Drive Leander, TX 4
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2004
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.18
    •  
  • 1137 Waterfall Ave Leander, TX 5
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2020
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
PROPERTY LISTING DETAILS
Pascal Munnelly
1.512.619.4332
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1517515
Last Updated: 01/23/2021
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