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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $159.78
- 3 Days on Market
- MLS # : 2580669
- Updated Date : 03/20/2021 at 15:01
CONSTRUCTION
- Beds : 3
- Floor Size : 2,300 sqft
- Baths : 2 full
Listing Agent
Picket Fence Properties
Listing Agent's Description
Enjoy Lake living! Awesome opportunity in beautiful Timber Lake neighborhood in Kingsland on Lake LBJ. 1 blk walk to neighborhood lake/boat dock! Well-loved 1 story home with great bones ready for your personal touches nestled on over 1/3 acre gorgeous oak-covered greenbelt lot just steps away from the lake. Built in 1993, this all brick ranch style 3-2-2 home offers open living /kitchen space, wonderful wood-burning fireplace, nice built ins, walk-in pantry, huge laundry room , large master suite at rear of home . Fenced backyard borders lovely green space with tons of privacy. No mandatory HOA. Low tax rate.
SEE MORE
- 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: 78639
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 78639
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $1,930 |
EXPENSES | Loan Payment | -$1,276 |
Property Tax | -$509 | |
Property Insurance | -$155 | |
Property Management Fees | -$99 | |
CASH FLOW
-$110
|
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$367,500
PROJECTED PRICE
$1,930
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 2.50% |
Appreciation Year (1-5) | 5.0% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 6.00% |
Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$103,138
LOAN DETAILS
$1,276
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $91,875 |
Loan Amount | $275,625 |
2.33
YEARS SAVED
$6,439
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 -
$0.84
LIST RENT PER SQFT
-
$2,001
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Picket Fence Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 2580669
Last Updated: 03/20/2021