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124 Thrasher Cove Leander, TX 78641

3 Beds 2 Baths 1,621 sqft Built 2016

$259,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $160.33
  • 5 Days on Market
  • MLS # : 1571517
  • Updated Date : 11/05/2020 at 18:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,621 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

This beautiful stone & brick one-story home with spacious floor-plan features open living, dining & kitchen. The kitchen features granite countertops, prep island, lots of storage & classic black appliances. Inviting Primary suite & bath with dual sinks, large soaking tub & separate shower. Warm wood laminate floors & tile throughout most of the house. Great backyard that backs to an Open Space (no neighbor bordering behind you) with covered patio and deck area perfect for outdoor entertaining. The game room/flex space (previously garage) is an added bonus to this model-like home. Wonderful community amenities, close to shopping, dining, and highways for commutes.

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
Plain Elementary School Primary Regular 850 55 5
Wiley Middle School Middle Regular 967 63 8
Glenn High School High Unknown NA

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Wiley Middle School

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

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$959
Property Tax -$630
Property Insurance -$118
HOA -$27
Property Management Fees -$136
CASH FLOW
-$170

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

$1,700

PROJECTED RENT

0.65%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,702

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6503$1,6504$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 124 Thrasher Cove Leander, TX 5
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 109 Sierra Mar Loop Leander, TX 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2016
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.08
    •  
  • 116 Mallard Ln Leander, TX 2
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2012
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 653 Sierra Mar Loop Leander, TX 3
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2017
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 225 Sierra Mar Loop Leander, TX 4
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2016
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kim Moore
1.512.748.6423
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1571517
Last Updated: 11/05/2020
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