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11133 Avering Lane Austin, TX 78754

4 Beds 2 Baths 1,980 sqft Built 1997

$349,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $176.72
  • 3 Days on Market
  • MLS # : 9895341
  • Updated Date : 03/20/2021 at 22:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,980 sqft
  • Baths : 2 full
Listing Agent

Mallach And Company

Listing Agent's Description

Charming Single Story Updated With The Finest Finishes in The Desired Community of Harris Branch! Open Concept Living With High Quality Wood Flooring In Main Spaces, Cozy Warm Gas Fireplace, High Ceilings and A Kitchen That is Made For Dancing! This Open Gourmet Kitchen Is Outfitted With Quartz Countertops, Stainless Steel Appliances, Gas Range and Plenty Of Cabinet Space! Spacious Master Suite With A Luxurious Bath, Updated Designer Finishes, Soaking Tub, Separate Shower, Dual Vanities And A Walk In Closet! Secondary Bedrooms With Top Of The Line Carpet. A Hop And A Skip Away From Prime Shopping, Hospitals and Tesla! Neighborhood Amenities Galore! Home Currently Has An Active Lease Through 9/30/2021. Great Investment Opportunity!

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: Harris Branch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $126k378k

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

Neighborhood: Harris Branch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8151966

* 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
Bluebonnet Trail Elementary School Primary Regular 496 29 5
Decker Middle School Middle Regular 912 54 3
Manor New Technology High School High Regular 385 30 8

Bluebonnet Trail Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 29
5
GreatSchools Rating

Decker Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
3
GreatSchools Rating

Manor New Technology High School

  • Education Level: High
  • # of students: 385
  • # of teachers: 30
8
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,215
Property Tax -$688
Property Insurance -$139
HOA -$41
Property Management Fees -$99
CASH FLOW
-$382

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.

$349,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.0%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,836

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7953$1,8004$1,8255$2,040
$2,040
RENT COMPS ANALYSIS
  • 11133 Avering Lane Austin, TX 3
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 11402 Ashprington Cove Austin, TX 1
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 1991
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 7311 Albany Drive Austin, TX 2
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2019
    property image
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
  • 11401 Ashprington Cove Austin, TX 4
    • 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,056 Sqft ∙ Built 1991
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.89
    •  
  • 7111 Whifflewind Way Austin, TX 5
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1995
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.96
    •  
PROPERTY LISTING DETAILS
Tina Mallach
Mallach And Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9895341
Last Updated: 03/20/2021
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