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1365 Kelly River Street New Braunfels, TX 78130

3 Beds 3 Baths 2,083 sqft Built 2020

$262,634

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $126.08
  • 11 Days on Market
  • MLS # : 3750500
  • Updated Date : 10/25/2020 at 01:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,083 sqft
  • Baths : 2 full , 1 half
Listing Agent

Brothers Group Inc

Listing Agent's Description

Great new home in Copper Run home features Granite in kitchen, Wood look tile in all common areas, Separate tub and shower in master bath, Stainless Steal Appliances, Covered Patio, Backs up to open field and much more. Close to all the amenities of New Braunfels shopping at Creekside and entertainment in Gruene, floating the Comal river. Call to make a appointment to see this home soon before it is gone, (Ready Jan)

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 78130

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

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

Zip Code: 78130

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* 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
Freiheit Elementary School Primary Regular 561 38 4
Canyon Middle School Middle Regular 1,073 61 6
Canyon High School High Regular 2,341 129 6

Freiheit Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 38
4
GreatSchools Rating

Canyon Middle School

  • Education Level: Middle
  • # of students: 1,073
  • # of teachers: 61
6
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,341
  • # of teachers: 129
6
GreatSchools Rating
 

$236,371$288,897$262,634

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$969
Property Tax -$473
Property Insurance -$147
HOA -$25
Property Management Fees -$131
CASH FLOW
-$106

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$262,634

PROJECTED PRICE

$1,640

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 9.02%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,598

INVESTMENT

$71,598

Down Payment
$65,659
Rehab Estimate
$2,000
Closing Costs
$3,940

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,659
Loan Amount $196,976
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,203

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,865
$1,865
RENT COMPS ANALYSIS
  • 1365 Kelly River Street New Braunfels, TX 2
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.79
    •  
  • 309 Stone Gate Drive New Braunfels, TX 1
    • 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2001
    property image
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 2036 Brandywine Dr New Braunfels, TX 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2015
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.81
    •  
PROPERTY LISTING DETAILS
Dennis Pennings
1.920.264.4338
Brothers Group Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3750500
Last Updated: 10/25/2020
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