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1301 Knippa Cove Hutto, TX 78634

3 Beds 3 Baths 2,252 sqft Built 2005

$255,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $113.23
  • 3 Days on Market
  • MLS # : 8799824
  • Updated Date : 12/19/2020 at 00:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,252 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Charming residence on the corner lot of cul-de-sac. Step into the expansive home with an open floor plan and plenty of space to suit everyone's needs. Enjoy the large family room, plus bonus game room upstairs with shelving. Kitchen features an island and large walk-in pantry, plus plenty of cabinet and counter space. Spacious upper bedrooms with ceiling fans and expansive walk-in closet in the master. Covered patio slab in the large, open backyard. Great for entertaining. This is an opportunity to not be missed.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78634

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $117k298k

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

Zip Code: 78634

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471723

* 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
Farley Middle School Primary Regular 682 44 6
Farley Middle School Middle Regular 682 44 6
Hutto High School High Regular 1,666 99 6

Farley Middle School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 44
6
GreatSchools Rating

Farley Middle School

  • Education Level: Middle
  • # of students: 682
  • # of teachers: 44
6
GreatSchools Rating

Hutto High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$941
Property Tax -$601
Property Insurance -$154
HOA -$10
Property Management Fees -$99
CASH FLOW
-$85

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.

$255,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,864

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7753$1,8004$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 1301 Knippa Cove Hutto, TX 1
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.76
    •  
  • 122 Paige Bend Hutto, TX 2
    • 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,374 Sqft ∙ Built 2001
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.75
    •  
  • 1106 Delia Chapa Hutto, TX 3
    • 4 beds 2 baths ∙ 2,358 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,358 Sqft ∙ Built 2005
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 1008 Mccormick Cv Hutto, TX 4
    • 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 115 Skylark Ln Hutto, TX 5
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 2020
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
PROPERTY LISTING DETAILS
Samantha Smith
1.737.356.2867
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8799824
Last Updated: 12/19/2020
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