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13124 Kellies Farm Lane Austin, TX 78727

4 Beds 3 Baths 1,905 sqft Built 1991

$299,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $156.96
  • 3 Days on Market
  • MLS # : 3942718
  • Updated Date : 01/23/2021 at 19:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,905 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Austin

Listing Agent's Description

Investors special! The home has good bones but needs a full renovation. Home is sold "as is". Located in the sought after Scotfield Farms near most major tech companies and The Domain Shopping Center.

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: North Shields

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $126k378k

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

Neighborhood: North Shields

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371999

* 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
Summitt Elementary School Primary Regular 774 51 7
Murchison Middle School Middle Regular 1,363 89 7
Anderson High School High Regular 2,224 131 8

Summitt Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 51
7
GreatSchools Rating

Murchison Middle School

  • Education Level: Middle
  • # of students: 1,363
  • # of teachers: 89
7
GreatSchools Rating

Anderson High School

  • Education Level: High
  • # of students: 2,224
  • # of teachers: 131
8
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,039
Property Tax -$588
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$30

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.

$299,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$15,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8253$1,8904$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 13124 Kellies Farm Lane Austin, TX 3
    • 4 beds 3 baths ∙ 1,905 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,905 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.99
    •  
  • 2113 Rodeo Drive Austin, TX 1
    • 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 1997
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
  • 2300 Alimony Cv Austin, TX 2
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1986
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.06
    •  
  • 2105 Equestrian Trail Austin, TX 4
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1998
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.03
    •  
  • 2206 Cedar Branch Drive Austin, TX 5
    • 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1991
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.10
    •  
PROPERTY LISTING DETAILS
Kimberly Fodor
1.512.809.3844
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3942718
Last Updated: 01/23/2021
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