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1129/1131 Renee Way Way Seguin, TX 78155

6 Beds 4 Baths 2,744 sqft Built 2021 2 Units

$396,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
2 Units MULTIFAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • 2-Flat Type Property
  • Built In 2021
  • Price/Sqft : $144.31
  • 4 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,744 sqft
  • Baths : 4 full
Listing Agent

Tobin

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

Zip Code: 78155

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $67k204k

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

Zip Code: 78155

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6791456

* 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
Koennecke Elementary School Primary Regular 533 31 7
Jim Barnes Middle School Middle Regular 530 34 5
Seguin High School High Regular 1,892 131 4

Koennecke Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 31
7
GreatSchools Rating

Jim Barnes Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 34
5
GreatSchools Rating

Seguin High School

  • Education Level: High
  • # of students: 1,892
  • # of teachers: 131
4
GreatSchools Rating
 

$356,400$435,600$396,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,375
Property Tax -$667
Property Insurance -$80
HOA -$75
Property Management Fees -$198
CASH FLOW
$405

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$396,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.31%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 3.00%
Vacancy 9.54%
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$0.0$5.0k$10k$15k$20k$25k

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$106,940

INVESTMENT

$106,940

Down Payment
$99,000
Rehab Estimate
$2,000
Closing Costs
$5,940

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,375

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,000
Loan Amount $297,000
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$49,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy