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1401 London Road Round Rock, TX 78664

3 Beds 2 Baths 1,376 sqft Built 1980

$229,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $166.42
  • 6 Days on Market
  • MLS # : 3453512
  • Updated Date : 12/09/2020 at 22:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full
Listing Agent

Socius Real Estate

Listing Agent's Description

Come see this great house in a hot neighborhood. Walking distance to highly acclaimed Round Rock schools and only minutes to transportation, parks, shopping & restaurants. The mother-in-law plan has a spacious master suite. The living room has vaulted ceilings and plenty of room to spread out. Hall bath has been completely updated and there is new carpet in all the bedrooms and fresh paint throughout. The backyard is great for entertaining in the shade of a huge and beautiful tree. All appliances in the house will convey. New HVAC in 2019.

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

Neighborhood: Mesa Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $96k298k

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

Neighborhood: Mesa Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7531828

* 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
Robertson Elementary School Primary Regular 507 38 4
Hernandez Middle School Middle Regular 831 66 4
Stony Point High School High Regular 2,463 173 6

Robertson Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 38
4
GreatSchools Rating

Hernandez Middle School

  • Education Level: Middle
  • # of students: 831
  • # of teachers: 66
4
GreatSchools Rating

Stony Point High School

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 173
6
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$845
Property Tax -$466
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$46

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.

$229,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.5%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,273

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,565

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4993$1,5504$1,5605$1,595
$1,595
RENT COMPS ANALYSIS
  • 1401 London Road Round Rock, TX 4
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.13
    •  
  • 1407 E Mesa Park Drive Round Rock, TX 1
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1979
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.12
    •  
  • 1508 Provident Lane Round Rock, TX 2
    • 4 beds 2 baths ∙ 1,282 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,282 Sqft ∙ Built 1981
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.17
    •  
  • 1003 Wayne Dr Round Rock, TX 3
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1978
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
  • 1401 Mills Meadow Drive Round Rock, TX 5
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1979
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
PROPERTY LISTING DETAILS
Matthew Ames
1.512.771.7441
Socius Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3453512
Last Updated: 12/09/2020
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