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1328 Backcountry Drive Leander, TX 78641

3 Beds 2 Baths 2,468 sqft Built 2018

$360,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $145.87
  • 3 Days on Market
  • MLS # : 3908295
  • Updated Date : 01/08/2021 at 20:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,468 sqft
  • Baths : 2 full
Listing Agent

Horizon Realty

Listing Agent's Description

Wonderful neighborhood with around the corner amenities! one story, open floor plan with large counter depth 'island' & two living areas well situated, covered back patio & water softener.

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

Neighborhood: Mason Hills

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $126k410k

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

Neighborhood: Mason Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Whitestone Elementary School Primary Regular 803 60 6
Leander Middle School Middle Regular 862 63 6
Leander High School High Regular 2,090 135 7

Whitestone Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 60
6
GreatSchools Rating

Leander Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 63
6
GreatSchools Rating

Leander High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 135
7
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,250
Property Tax -$833
Property Insurance -$166
HOA -$60
Property Management Fees -$99
CASH FLOW
-$348

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.

$360,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8993$1,9504$2,0005$2,060
$2,060
RENT COMPS ANALYSIS
  • 1328 Backcountry Drive Leander, TX 5
    • 3 beds 2 baths ∙ 2,468 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,468 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.83
    •  
  • 740 Aliso Trl Leander, TX 1
    • 3 beds 3 baths ∙ 2,391 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,391 Sqft ∙ Built 2019
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 1417 Hamiltons Way Leander, TX 2
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2017
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.80
    •  
  • 1557 Sonny Dr Leander, TX 3
    • 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 2019
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 1529 Hamiltons Way Leander, TX 4
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2017
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
PROPERTY LISTING DETAILS
Edward Farmer
1.512.785.7968
Horizon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3908295
Last Updated: 01/08/2021
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