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11224 Pickard Lane Austin, TX 78748

3 Beds 3 Baths 2,233 sqft Built 2002

$345,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $154.50
  • 6 Days on Market
  • MLS # : 1071261
  • Updated Date : 10/29/2020 at 18:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,233 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dash Realty

Listing Agent's Description

Beautiful home with all side masonry in desirable South Austin. Low taxes. All room upstairs, laminated flooring throughout. Nice kitchen with huge walk-in pantry. Humongous primary bedroom, with spacious walk-in closet, garden tub, and separate shower. 2nd bath has access from the second room and hallway. Large backyard, more than enough yard for play and to grow vegetables and fruits. Walking distance to greenbelt trails and close to HEB, Gyms, bars, and restaurants, and easy access to Mopac and I35.

SEE MORE

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: Hillcrest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Hillcrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Menchaca Elementary School Primary Regular 717 47 5
Bailey Middle School Middle Regular 917 58 6
Akins High School High Regular 2,667 155 4

Menchaca Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 47
5
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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,273
Property Tax -$678
Property Insurance -$153
HOA -$31
Property Management Fees -$154
CASH FLOW
-$360

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.

$345,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,976

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8953$1,8954$1,930
$1,930
RENT COMPS ANALYSIS
  • 11224 Pickard Lane Austin, TX 4
    • 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.86
    •  
  • 2104 Coats Cove Austin, TX 1
    • 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1998
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 2010 Wilma Rudolph Road Austin, TX 2
    • 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 2210 Wilma Rudolph Road Austin, TX 3
    • 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2003
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
PROPERTY LISTING DETAILS
Mohammad Ali Tukdi
1.512.670.1900
Dash Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1071261
Last Updated: 10/29/2020
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