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12701 Burks Cove Austin, TX 78732

3 Beds 2 Baths 1,889 sqft Built 1996

$440,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $232.93
  • 4 Days on Market
  • MLS # : 8917940
  • Updated Date : 03/06/2021 at 20:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,889 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

Multiple Offers - Deadline to submit best and final 3/6/21 by 6pm. Incredible 3/2 Single-Story on a Cul-De-Sac! Highly acclaimed Leander ISD. You will be drawn inside from its eye-catching curb appeal with gorgeous mature trees. Beautifully designed for all your gatherings as the open-concept floorplan offers a spacious living room with a gas fireplace, a dining room with HUGE windows that look out into the backyard, & a chef-approved kitchen that includes granite counters, a gas stovetop, a built-in double oven, & tons of cabinetry. Wood floors & high ceilings throughout! Private & secluded, retreat to your large primary suite with vaulted ceilings & get ready for the day in your spa-like ensuite bath that is complete with separate vanities, a jetted tub, walk-in shower, & a walk-in closet. With ample space for al fresco dining & relaxing, head out to the expansive deck that overlooks the fully fenced yard & tranquil water feature. You can't beat this location - walking/biking distance to neighborhood amenities, a few miles to Lake Travis, & near great schools!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: Steiner Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $136k568k

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

Neighborhood: Steiner Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9973142

* 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
Laura Bush Elementary School Primary Regular 862 51 10
Canyon Ridge Middle School Middle Regular 1,270 70 10
Vandegrift High School High Regular 2,062 124 8

Laura Bush Elementary School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 51
10
GreatSchools Rating

Canyon Ridge Middle School

  • Education Level: Middle
  • # of students: 1,270
  • # of teachers: 70
10
GreatSchools Rating

Vandegrift High School

  • Education Level: High
  • # of students: 2,062
  • # of teachers: 124
8
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,528
Property Tax -$865
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
-$466

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.

$440,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 3.4%
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-$12k-$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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,158

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,1604$2,550
$2,550
RENT COMPS ANALYSIS
  • 12701 Burks Cove Austin, TX 3
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.14
    •  
  • 2805 Centennial Olympic Park Austin, TX 1
    • 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,890 Sqft ∙ Built 2006
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
  • 2848 Lantana Ridge Dr Austin, TX 2
    • 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 1999
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
  • 3807 John Simpson Trail Austin, TX 4
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 1994
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.23
    •  
PROPERTY LISTING DETAILS
Christina Balderas
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8917940
Last Updated: 03/06/2021
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