Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11745 Channing Drive Austin, TX 78748

3 Beds 2 Baths 1,537 sqft Built 2009

$309,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $201.04
  • 4 Days on Market
  • MLS # : 6018048
  • Updated Date : 01/15/2021 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,537 sqft
  • Baths : 2 full
Listing Agent

C4 Real Estate Of Texas Llc

Listing Agent's Description

Beautiful home located in the Morningside Subdivision, Home offer, 3 bedrooms, 2 full baths, large living , spacious Kitchen and dining areas, 2 car finished out garage, nice size laundry room, stainless appliances, Gas range, water heater & heating. Outside offer a large partially covered deck for friends and family time, covered front porch, and nice size front, back and side yard with sprinkler system.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $105k378k

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

Neighborhood: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7761966

* 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
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Menchaca Elementary School

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

Paredes Middle School

  • Education Level: Middle
  • # of students: 1,032
  • # of teachers: 69
4
GreatSchools Rating

Akins High School

  • Education Level: High
  • # of students: 2,667
  • # of teachers: 155
4
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,073
Property Tax -$608
Property Insurance -$114
HOA -$26
Property Management Fees -$99
CASH FLOW
-$150

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.

$309,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,272

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,8003$1,8004$1,8255$1,845
$1,845
RENT COMPS ANALYSIS
  • 11745 Channing Drive Austin, TX 1
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.15
    •  
  • 11828 Hartley Cove Austin, TX 2
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2012
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
  • 1312 St Stanislaws Drive Austin, TX 3
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2009
    property image
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
  • 11736 Channing Drive Austin, TX 4
    • 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,537 Sqft ∙ Built 2009
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.19
    •  
  • 11716 Channing Drive Austin, TX 5
    • 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,681 Sqft ∙ Built 2008
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.10
    •  
PROPERTY LISTING DETAILS
Rocky Collette
1.830.237.7714
C4 Real Estate Of Texas Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6018048
Last Updated: 01/15/2021
BESbswy