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

1213 Ambrose Drive Salado, TX 76571

4 Beds 3 Baths 2,701 sqft Built 2004

$450,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $166.60
  • 3 Days on Market
  • MLS # : 3507849
  • Updated Date : 02/13/2021 at 22:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,701 sqft
  • Baths : 3 full
Listing Agent

Raney & Associates Real Estate

Listing Agent's Description

Curb appeal at its best! Pride of ownership shows in this beautiful custom home nestled in established Mill Creek. 4 bedrooms, 3 full bathrooms, half acre lot. Custom features include granite countertops, beautiful wood crown moulding and built-ins, walk-in closets in all bedrooms, tons of storage, professional landscaping, iron fence, and a golf cart garage. The view off the back of this home can't be beat, and it's a short golf cart ride to the clubhouse when you hop on the path that runs behind the fence. This home has everything that makes Salado living spectacular!

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

Zip Code: 76571

ZipNIR Market*CityMarket20102015Year2006 Q22019120k140k160k180k200k220k240k260k280kPrice in $104k289k

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

Zip Code: 76571

ZipNIR Market*CityMarket2015Year2009 Q32019 Q2110012001300140015001600170018001900Rent in $10511986

* 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
Thomas Arnold Elementary School Primary Regular 368 21 NA
Salado Junior High School Middle Regular 232 15 7
Salado High School High Regular 479 37 7

Thomas Arnold Elementary School

  • Education Level: Primary
  • # of students: 368
  • # of teachers: 21
NA
GreatSchools Rating

Salado Junior High School

  • Education Level: Middle
  • # of students: 232
  • # of teachers: 15
7
GreatSchools Rating

Salado High School

  • Education Level: High
  • # of students: 479
  • # of teachers: 37
7
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,563
Property Tax -$937
Property Insurance -$169
Property Management Fees -$99
CASH FLOW
-$378

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.

$450,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.62%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,350

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,500
$2,500
RENT COMPS ANALYSIS
  • 1213 Ambrose Drive Salado, TX 1
    • 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.88
    •  
  • 706 Arrowhead Dr Salado, TX 2
    • 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 1976
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jennifer Raine
Raney & Associates Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3507849
Last Updated: 02/13/2021
BESbswy