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1417 Canopy Creek Way Austin, TX 78748

3 Beds 3 Baths 1,792 sqft Built 2013

$370,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $206.47
  • 4 Days on Market
  • MLS # : 9426763
  • Updated Date : 01/02/2021 at 00:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,792 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Prosper

Listing Agent's Description

Fantastic South Austin location just minutes from both Mopac and IH 35 just off of Slaughter. Enjoy being close to shopping (minutes to HEB, fitness facilities, medical offices, Mary Moore Searight Park, and more), schools, and town while still having privacy and enjoying nature on this greenbelt lot. The impressive two story ceiling in living room welcomes you into this open floorplan with tons of natural light. This 3 bedroom 2.5 bath home is full of upgrades including upgraded cabinetry, wrought iron railing on stairs, and crown molding in kitchen and primary bedroom. All bedrooms are upstairs in this house along with laundry room for convenience. Enjoy spending time on your covered back porch overlooking the greenbelt, or enjoy the great greenbelt view from the primary bedroom, living room, and dining room. Home is in very back of community and just a short walk to community playground.

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: Lynnbrook and Searight Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $125k378k

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

Neighborhood: Lynnbrook and Searight Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9372086

* 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
Casey Elementary School Primary Regular 665 44 5
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Casey Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 44
5
GreatSchools Rating

Paredes Middle School

  • Education Level: Middle
  • # of students: 1,032
  • # of teachers: 69
4
GreatSchools Rating

Akins High School

  • Education Level: High
  • # of students: 2,667
  • # of teachers: 155
4
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,365
Property Tax -$728
Property Insurance -$128
HOA -$28
Property Management Fees -$99
CASH FLOW
-$188

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.

$370,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,155

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1603$2,2004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1417 Canopy Creek Way Austin, TX 2
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.21
    •  
  • 10032 Aly May Drive Austin, TX 1
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 2014
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.14
    •  
  • 1312 Cedar Stand Pass Austin, TX 3
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2013
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.23
    •  
  • 1317 Canopy Creek Way Austin, TX 4
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.22
    •  
  • 1305 Canopy Creek Way Austin, TX 5
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2013
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.22
    •  
PROPERTY LISTING DETAILS
Jessica Pack
1.512.576.7417
Realty One Group Prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9426763
Last Updated: 01/02/2021
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