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1136/1138 Renee Way Way Seguin, TX 78155

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

$394,900

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
2 Units MULTIFAMILY
February 12, 2021 RECENTLY ADDED
FACTS
  • 2-Flat Type Property
  • Built In 2021
  • Price/Sqft : $143.91
  • 3 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,744 sqft
  • Baths : 4 full
Listing Agent

Tobin

Listing Agent's Description

North King Street, new construction duplex community is located 30-minutes from San Antonio and 20-minutes from New Braunfels in Seguin, TX. These Luxury duplexes are built Rent-Ready and offer a spacious and contemporary design. 11 ft. high ceilings in the living room and kitchen. Concrete stained flooring throughout, for a durable, low maintenance beautiful finish. Open kitchen with recessed lighting, granite countertops, 42 inch cabinets, and tasteful backsplash lighting. Stainless Steel appliances included as well as refrigerator to reduce vacancy. Large master bedroom with 10 ft ceiling and en suite bathroom with dual sink vanity. Window faux wood blinds included. Ceiling fans included in all bedrooms, living room and back covered patio. Full sod and sprinkler system included with 10-Year builder warranty. This community is in the heart of Seguin minutes from major businesses like Toyota, Caterpillar, Tyson Factory and Texas Lutheran University. Seguin is a manufacturing and healthcare hub located off IH10 highway; attracting employers and workers all over South-Central Texas creating very strong rental demand. View aerial tour, 3D mapping and floorplan.

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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
 

$355,410$434,390$394,900

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 -$1,372
Property Tax -$658
Property Insurance -$80
HOA -$75
Property Management Fees -$198
CASH FLOW
$417

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.

$394,900

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$109,649

INVESTMENT

$109,649

Down Payment
$98,725
Rehab Estimate
$5,000
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

8.83

YEARS SAVED

$50,769

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