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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $166.93
- 7 Days on Market
- MLS # : 2526081
- Updated Date : 12/17/2020 at 20:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,288 sqft
- Baths : 2 full
Listing Agent
Century 21 Randall Morris
Listing Agent's Description
This is an adorable home for a young starter family or any investors out there. The home shows the pride in homeownership from the previous owners and is in a very private location with little traffic down the cul de sac road. This home offers a large vaulted ceiling in the living room with an open concept dining room and kitchen. There are Stainless appliances and custom built cabinets with a breakfast bar overlooking the living room/kitchen. There are two guest bedrooms with a bathroom that has tub to ceiling tile surround and is separate from the primary bedroom. The primary bedroom has a coffered ceiling and large closet. Come enjoy the outdoor space that the owners have created with this one. Two built in porch swings surround a pavestone brick fireplace with several trees and shrubs that have been planted. Storage shed in back has power to it.
SEE MORE
- #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: North Canyon Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Canyon Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,440 |
| EXPENSES | Loan Payment | -$793 |
| Property Tax | -$333 | |
| Property Insurance | -$101 | |
| HOA | -$2 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$111
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$215,000
PROJECTED PRICE
$1,440
PROJECTED RENT
0.67%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.11% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.32% |
| 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
$62,725
LOAN DETAILS
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
5.67
YEARS SAVED
$15,730
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,440
LIST RENT -
$1.12
LIST RENT PER SQFT
-
$1,069
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
121 Woodridge Canyon Lake, TX 3
- 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 2017
![property image]()
- Rent
- Rent Per SQFT
- $1,440
- $1.12
-
1065 Tamarack Drive Canyon Lake, TX 1
- 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2014
![property image]()
LEASED 03/27/20- Rent
- Rent Per SQFT
- $1,200
- $0.77
-
1051 Tamarack Drive Canyon Lake, TX 2
- 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2014
![property image]()
LEASED 05/26/20- Rent
- Rent Per SQFT
- $1,200
- $0.89
PROPERTY LISTING DETAILS
1.512.217.4776
Century 21 Randall Morris
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 2526081
Last Updated: 12/17/2020
