Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1403 Pinewood Cove Leander, TX 78641

3 Beds 2 Baths 1,311 sqft Built 1986

$245,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $186.88
  • 2 Days on Market
  • MLS # : 2850314
  • Updated Date : 01/23/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,311 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

All offers due by 12 PM Monday, January 25. A beautifully modified Mason Creek home is within walking distance of the community pool, playground, and jogging trail. Inside you'll find a tidy mid-century oasis, comfortable and charming with WIFI convenience. You will not find anyplace like this in the subdivision. Move-in to a home complete with deck, workshop, gardeners shed, bubbly pond, and a mini raised organic garden - vegetable-ready! Yeah, there's a drip system for the garden. This house is ADA friendly too! There are too many nice additions here to list, you just have to come to see for yourself.

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$851
Property Tax -$567
Property Insurance -$101
HOA -$15
Property Management Fees -$99
CASH FLOW
-$123

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.

$245,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
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

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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$2,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5104$1,595
$1,595
RENT COMPS ANALYSIS
  • 1403 Pinewood Cove Leander, TX 3
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.15
    •  
  • 1209 Still Meadow Drive Leander, TX 1
    • 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 2000
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
  • 1810 Twisted Oak Drive Leander, TX 2
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1997
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
  • 1705 Laurel Ln Leander, TX 4
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1986
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.17
    •  
PROPERTY LISTING DETAILS
Lori Kelly
1.512.576.9047
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2850314
Last Updated: 01/23/2021
BESbswy