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1229 Yellow Iris Road Leander, TX 78641

4 Beds 3 Baths 2,438 sqft Built 2014

$300,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $123.05
  • 3 Days on Market
  • MLS # : 4696300
  • Updated Date : 12/12/2020 at 18:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,438 sqft
  • Baths : 2 full , 1 half
Listing Agent

Austin Texan Realty

Listing Agent's Description

Pre Inspected Home ready for move in. Lightly lived in, spacious, well cared for 4 bdrm/2.5 bath home in a quiet and peaceful neighborhood located between 183 & 183A with easy access to Cedar Park & 45 toll for all your shopping and entertainment needs. Tile floors on main level, granite countertops in kitchen & bathrooms, high cabinets in kitchen, plenty of energy efficient windows throughout bring in natural light, plenty of storage with walk in pantry and walk in bedroom closets. Good size bedrooms all upstairs. Both full bathroom tubs are ceramic with ceramic tile walls for good durability. Laundry room upstairs. Automatic full irrigation system. Playground within walking distance. Private fenced back yard has two grafted pecan trees (3 years old) Crepe Myrtle small bush (red leaves and red flowers) Rosemary bush (4 years old) Yellow bells ( 1 year old) Thryallis (2 years old) Aloe Vera ( 8 years old) 100% organic vegetable bed (Okra, asian sichuan beans, purple tomato, scallions) (not showing in pics due to it being winter time but they should grow back in spring time. Front yard has Knockout roses - Red and Yellow, Trumpet vine, Purple sage 2 bushes (5 years old) Red oak tree (6 years old fully grown) 5 live oak trees (they are older trees and they have been there since before the house was built)

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Pleasant Hill Elementary School Primary Regular 844 59 4
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Pleasant Hill Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 59
4
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,107
Property Tax -$694
Property Insurance -$164
HOA -$34
Property Management Fees -$99
CASH FLOW
-$208

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.

$300,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,441

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,859

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8903$1,8954$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 1229 Yellow Iris Road Leander, TX 2
    • 4 beds 3 baths ∙ 2,438 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,438 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.78
    •  
  • 1121 Calla Lily Boulevard Leander, TX 1
    • 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2014
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 1001 Rio Azul Cove Leander, TX 3
    • 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 2014
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.73
    •  
  • 928 Water Hyacinth Loop Leander, TX 4
    • 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 2013
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 1549 Lotus Flower Loop Leander, TX 5
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 2015
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
PROPERTY LISTING DETAILS
Maria Delgado
1.512.689.5873
Austin Texan Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4696300
Last Updated: 12/12/2020
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