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1242 Chad Drive Round Rock, TX 78665

4 Beds 4 Baths 2,513 sqft Built 2018

$354,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $140.87
  • 7 Days on Market
  • MLS # : 1002454
  • Updated Date : 12/09/2020 at 14:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,513 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Keep your loved ones close! this NextGen home is ready for move in! Features the main home and the on-suite. The on-suite has a private entrance not only at the main home entry but also inside the home. It includes a living room, kitchenette, bedroom, and full bath. This multi gen home is not only Beautiful, but has an open floor plan with a bright Stunning Kitchen with huge Island, a game room upstairs and all bedrooms have a bath. Great outdoor living possibilities with covered patio. Keep the loved ones close to you.

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: 78665

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $128k410k

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

Zip Code: 78665

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Hutto Middle School Primary Regular 708 46 6
Hutto Middle School Middle Regular 708 46 6
Hutto High School High Regular 1,666 99 6

Hutto Middle School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 46
6
GreatSchools Rating

Hutto Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 46
6
GreatSchools Rating

Hutto High School

  • Education Level: High
  • # of students: 1,666
  • # of teachers: 99
6
GreatSchools Rating
 

$318,600$389,400$354,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,306
Property Tax -$720
Property Insurance -$168
HOA -$30
Property Management Fees -$99
CASH FLOW
-$373

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.

$354,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,560

INVESTMENT

$99,560

Down Payment
$88,500
Rehab Estimate
$5,750
Closing Costs
$5,310

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,500
Loan Amount $265,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,985

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1242 Chad Drive Round Rock, TX 2
    • 4 beds 4 baths ∙ 2,513 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,513 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 1027 Chad Loop Round Rock, TX 1
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2017
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 1125 Chad Dr Round Rock, TX 3
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2017
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 2717 Santa Cruz St Round Rock, TX 4
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2015
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 2008 Santa Barbara Court Round Rock, TX 5
    • 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2011
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
PROPERTY LISTING DETAILS
Debra Meyer
1.512.791.8467
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1002454
Last Updated: 12/09/2020
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