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

12817 Starbrimson Trl Elgin, TX 78621

4 Beds 3 Baths 2,304 sqft Built 2005

INVESTimate

$210,000

List Price

$1,590

$1,431 - $1,749

Rent Est.

$220,752  ( +5.12%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $91.15
  • 6 Days on Market
  • MLS # : 2534097
  • Updated Date : 08/25/2020 at 15:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,304 sqft
  • Baths : 2 full , 1 half
Listing Agent

Invest Chew, Llc

Listing Agent's Description

INVESTORS!! INVESTORS!! Look at this return. 22 months left on a two year lease at $1525/month. Solid tenants who have been there for over a year. Many recent improvements: Roof shingles - 2020; Zoned HVAC, Wood-look tile, Carpet, Painted interior & New kitchen appliance all in 2019. Tenants love the amenities w/ playscape, soccer field, basketball court, community gathering at large pool area. ONLY $91.15 per sq ft. The location is West of Elgin only 22 miles to DT Austin which is about the same as RR.

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

Neighborhood: Elm Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k298k

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

Neighborhood: Elm Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5101723

* 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
Elgin Elementary School Primary Regular 782 47 2
Elgin Middle School Middle Regular 926 56 3
Elgin High School High Regular 1,299 80 4

Elgin Elementary School

  • Education Level: Primary
  • # of students: 782
  • # of teachers: 47
2
GreatSchools Rating

Elgin Middle School

  • Education Level: Middle
  • # of students: 926
  • # of teachers: 56
3
GreatSchools Rating

Elgin High School

  • Education Level: High
  • # of students: 1,299
  • # of teachers: 80
4
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$775
Property Tax -$530
Property Insurance -$157
HOA -$37
Property Management Fees -$127
CASH FLOW
-$35

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.12%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$5,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4753$1,4954$1,5505$1,590
$1,590
RENT COMPS ANALYSIS
  • 12817 Starbrimson Trl Elgin, 5
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.69
    •  
  • 102 Williamson Cv Elgin, 1
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2006
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.70
    •  
  • 17713 Mahonia Ln Elgin, 2
    • 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 2004
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.68
    •  
  • 17712 Wild Lily Cv Elgin, 3
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 2009
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
  • 13009 Amaryllis Trl Elgin, 4
    • 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2008
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
PROPERTY LISTING DETAILS
Mark Minchew
1.512.328.8333
Invest Chew, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2534097
Last Updated: 08/25/2020
BESbswy