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

131 Bright Valley Austin, TX 78737

3 Beds 3 Baths 2,553 sqft Built 2020

INVESTimate

$442,545

List Price

$2,660

$2,410 - $2,910

Rent Est.

$464,938  ( +5.06%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $173.34
  • 8 Days on Market
  • MLS # : 6259079
  • Updated Date : 08/19/2020 at 17:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,553 sqft
  • Baths : 3 full
Listing Agent

M/i Homes Realty

Listing Agent's Description

3 bedrooms, 3 bath and a Study. Owner Bay Window, White Shaker cabinets, Silestone Countertops, Kitchen Island, Built-in Oven and Cooktop. Pot and Pan Drawers. Pullout trash can drawer. Wood in all common areas. Upgraded 8’ front door. 8’ interior doors on. Covered Patio, Gas stub for future grill, 2’ faux wood blinds, Tankless water heater Finished garage with garage door opener, Complete Lawn Sprinkler System. Natural Gas, Tankless water heater and front lawn maintained by HOA.

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: Belterra

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k465k

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

Neighborhood: Belterra

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9972625

* 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
Rooster Springs Elementary School Primary Regular 819 50 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Rooster Springs Elementary School

  • Education Level: Primary
  • # of students: 819
  • # of teachers: 50
8
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$398,291$486,800$442,545

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,633
Property Tax -$761
Property Insurance -$171
HOA -$130
Property Management Fees -$213
CASH FLOW
-$247

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$442,545

PROJECTED PRICE

$2,660

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.06%
Maintenance Year (1-5) 3.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,274

INVESTMENT

$119,274

Down Payment
$110,636
Rehab Estimate
$2,000
Closing Costs
$6,638

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,633

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,636
Loan Amount $331,909
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,687

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6503$2,6604$2,7005$2,700
$2,700
RENT COMPS ANALYSIS
  • 131 Bright Valley Austin, 3
    • 3 beds 3 baths ∙ 2,553 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,553 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.04
    •  
  • 120 Abbey Dr Austin, 1
    • 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,456 Sqft ∙ Built 2004
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
  • 127 Stone View Trl Austin, 2
    • 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2013
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.09
    •  
  • 215 Lexington Dr Austin, 4
    • 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.11
    •  
  • 238 Stone View Trl Austin, 5
    • 4 beds 2 baths ∙ 2,667 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,667 Sqft ∙ Built 2011
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Patrick Easter
1.512.241.0848
M/i Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6259079
Last Updated: 08/19/2020
BESbswy