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13017 Wedding Drive Manor, TX 78653

3 Beds 2 Baths 1,689 sqft Built 2011

$240,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $142.10
  • 4 Days on Market
  • MLS # : 8837640
  • Updated Date : 03/19/2021 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,689 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-rr (wc)

Listing Agent's Description

Beautifully maintained home with wonderfully designed split plan, Flex/ office space. Open plan with great features like hard wood floors, window seats, tons of cabinetry and countertop space. Huge private backyard all in a desired area on a corner lot just off of a cul-de-sac. You'll certainly want to see this one!

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: Bell Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $102k298k

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

Neighborhood: Bell Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6831723

* 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
Shadow Glen Elementary School Primary Regular NA
Manor Middle School Middle Regular 923 62 2
Manor New Technology High School High Regular 385 30 8

Shadow Glen Elementary School

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

Manor Middle School

  • Education Level: Middle
  • # of students: 923
  • # of teachers: 62
2
GreatSchools Rating

Manor New Technology High School

  • Education Level: High
  • # of students: 385
  • # of teachers: 30
8
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$834
Property Tax -$576
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$121

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.

$240,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$3,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5953$1,5954$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 13017 Wedding Drive Manor, TX 1
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.89
    •  
  • 12920 Tinker Street Manor, TX 2
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2017
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 13316 High Sierra Street Manor, TX 3
    • 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,604 Sqft ∙ Built 2009
    property image
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.99
    •  
  • 13004 Pealing Way Manor, TX 4
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 2016
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 12913 Ring Drive Manor, TX 5
    • 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,779 Sqft ∙ Built 2013
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Nevada Titworth
Keller Williams Realty-rr (wc)
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8837640
Last Updated: 03/19/2021
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