Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1109 Apollo Lane Cedar Park, TX 78613

3 Beds 2 Baths 1,949 sqft Built 1999

$285,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $146.23
  • 3 Days on Market
  • MLS # : 6514104
  • Updated Date : 01/23/2021 at 01:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,949 sqft
  • Baths : 2 full
Listing Agent

98th Meridian

Listing Agent's Description

Relax in this one story, red brick home nestled in the Heritage Ridge subdivision located in Cedar Park, TX. An abundance of windows allow light to shine throughout this 1949 sq ft, 3 Bedroom, 2 full bath home. The open kitchen displays a nice sized island, a plethora of cabinets and counter space. The family room with gas fireplace offers a cozy space to entertain. Minutes away from Leander ISD schools, retail, major employers, 183A toll. Make an appointment to see this home today!

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: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k316k

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

Neighborhood: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371992

* 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
Knowles Elementary School Primary Regular 792 60 5
Running Brushy Middle School Middle Regular 1,282 80 6
Leander High School High Regular 2,090 135 7

Knowles Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 60
5
GreatSchools Rating

Running Brushy Middle School

  • Education Level: Middle
  • # of students: 1,282
  • # of teachers: 80
6
GreatSchools Rating

Leander High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 135
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$990
Property Tax -$627
Property Insurance -$137
HOA -$30
Property Management Fees -$99
CASH FLOW
-$213

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.

$285,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.3%
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$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,6704$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 1109 Apollo Lane Cedar Park, TX 3
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.86
    •  
  • 1908 Hilltree Lane Cedar Park, TX 1
    • 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1993
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.88
    •  
  • 625 Columbine Avenue Cedar Park, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1200 Heritage Hill Cv Cedar Park, TX 4
    • 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 2001
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 632 Columbine Ave Cedar Park, TX 5
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2001
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
PROPERTY LISTING DETAILS
Barbara Colvin
1.512.589.4139
98th Meridian
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6514104
Last Updated: 01/23/2021
BESbswy