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1208 Olympic Drive Pflugerville, TX 78660

3 Beds 2 Baths 1,562 sqft Built 1999

$259,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $166.39
  • 3 Days on Market
  • MLS # : 7146995
  • Updated Date : 01/16/2021 at 16:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,562 sqft
  • Baths : 2 full
Listing Agent

Texcen Realty

Listing Agent's Description

3 bed, 2 bath home in growing suburb of Austin. 10 minute drive to Austin. New location of coming Amazon headquarters. Area to be flooded with jobs. Tech area close to Apple, Dell, IBM, National Instruments, NVIDIA, Atlassaian, Facebook, Google & Silicone Labs. Open floor plan, in-law layout. Kitchen open to living, center island. Fireplace in living area. Formal dining area. Second living area could also be used as an office. Good size master bedroom with en suite. Separate garden tub and stand up shower, walk in closet. Large back yard.

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

Neighborhood: Settler's Meadow North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $115k298k

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

Neighborhood: Settler's Meadow North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8491779

* 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
Spring Hill Elementary School Primary Regular 678 46 6
Pflugerville Middle School Middle Regular 1,031 71 6
Pflugerville High School High Regular 2,256 143 7

Spring Hill Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 46
6
GreatSchools Rating

Pflugerville Middle School

  • Education Level: Middle
  • # of students: 1,031
  • # of teachers: 71
6
GreatSchools Rating

Pflugerville High School

  • Education Level: High
  • # of students: 2,256
  • # of teachers: 143
7
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$903
Property Tax -$607
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
-$254

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$259,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5003$1,5454$1,5505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1208 Olympic Drive Pflugerville, TX 1
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.94
    •  
  • 809 Friendship Quilt Lane Pflugerville, TX 2
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2002
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 15127 Lantern Drive Pflugerville, TX 3
    • 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,481 Sqft ∙ Built 2000
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.04
    •  
  • 932 Twisted Fence Drive Pflugerville, TX 4
    • 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,562 Sqft ∙ Built 2001
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 14708 Lantern Drive Pflugerville, TX 5
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kathleen Cherry
1.512.593.1299
Texcen Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7146995
Last Updated: 01/16/2021
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