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11621 Melstone Drive Manor, TX 78653

3 Beds 3 Baths 1,454 sqft Built 2003

$221,500

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $152.34
  • 3 Days on Market
  • MLS # : 7246595
  • Updated Date : 03/20/2021 at 14:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,454 sqft
  • Baths : 2 full , 1 half
Listing Agent

Central Metro Realty

Listing Agent's Description

Nice community 3 bedrooms and 2 and half bathrooms, two years old roof.

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: Briarcreek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $85k298k

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

Neighborhood: Briarcreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6471723

* 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
Blake Manor Elementary School Primary Regular 763 41 4
Manor Middle School Middle Regular 923 62 2
Manor New Technology High School High Regular 385 30 8

Blake Manor Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 41
4
GreatSchools Rating

Manor Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 62
2
GreatSchools Rating

Manor New Technology High School

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

$199,350$243,650$221,500

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$769
Property Tax -$532
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$1

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.

$221,500

PROJECTED PRICE

$1,510

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,448

INVESTMENT

$64,448

Down Payment
$55,375
Rehab Estimate
$5,750
Closing Costs
$3,323

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$769

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,375
Loan Amount $166,125
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5103$1,6004$1,675
$1,675
RENT COMPS ANALYSIS
  • 11621 Melstone Drive Manor, TX 2
    • 3 beds 3 baths ∙ 1,454 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,454 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.04
    •  
  • 18312 Great Valley Manor, TX 1
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.02
    •  
  • 18012 Powder Creek Dr Manor, TX 3
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2003
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 11805 Lima Drive Manor, TX 4
    • 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,567 Sqft ∙ Built 2004
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.07
    •  
PROPERTY LISTING DETAILS
Maria Mangum
Central Metro Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7246595
Last Updated: 03/20/2021
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