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1315 Lilac Ledge Drive Temple, TX 76502

3 Beds 2 Baths 1,269 sqft Built 2019

$199,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $157.53
  • 2 Days on Market
  • MLS # : 8366238
  • Updated Date : 02/06/2021 at 15:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,269 sqft
  • Baths : 2 full
Listing Agent

All City Real Estate Ltd. Co

Listing Agent's Description

Like new home in Lake Pointe subdivision. This immaculate three bedroom, two bath home is ready for move in. Many upgrades to include maintenance free wood look plank flooring, granite countertops, water softener, utility sink in the garage and a large inside laundry room /mudroom. The primary bedroom features large open space with a primary bathroom with double vanity and a large storage closet and huge shower. There is a split floorplan with the other two bedrooms and bathroom on the other side of the house. The kitchen includes a large lighted pantry, built in microwave and granite countertops with dark wood cabinets all open to the living room. Lake Pointe Community has a neighborhood park and pool and is convenient to the new Lake Belton High School.

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

Zip Code: 76502

ZipNIR Market*CityMarket20102015Year2006 Q22019110k120k130k140k150k160k170k180k190kPrice in $104k195k

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

Zip Code: 76502

ZipNIR Market*CityMarket2015Year2009 Q32019 Q210501100115012001250130013501400Rent in $10321403

* 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
Lakewood Elementary School Primary Regular 657 38 9
Belton High School High Regular 2,643 176 6
Tarver Elementary School Primary Regular 452 29 7

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 38
9
GreatSchools Rating

Belton High School

  • Education Level: High
  • # of students: 2,643
  • # of teachers: 176
6
GreatSchools Rating

Tarver Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 29
7
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$694
Property Tax -$447
Property Insurance -$94
HOA -$30
Property Management Fees -$99
CASH FLOW
-$54

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$199,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.62%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,206

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,310
$1,310
RENT COMPS ANALYSIS
  • 1315 Lilac Ledge Drive Temple, TX 2
    • 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.03
    •  
  • 9017 Lonesome Oak Drive Temple, TX 1
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2010
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Buddy Schwab
All City Real Estate Ltd. Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8366238
Last Updated: 02/06/2021
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