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

14525 Prairie Sod Lane Elgin, TX 78621

5 Beds 3 Baths 2,542 sqft Built 2021

$283,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $111.68
  • 4 Days on Market
  • MLS # : 9556486
  • Updated Date : 01/14/2021 at 21:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,542 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Travis plan offers the space you desire! This stunning two-story home offers 5 bedrooms, 2.5 bathrooms, an upstairs gameroom and a popular, open layout. In addition, the Travis plan comes complete with a host of designer upgrades included at no additional cost. Energy-efficient kitchen appliances, granite countertops, luxury vinyl-plank flooring and a Wi-Fi-enabled garage door opener are just a few of the remarkable upgrades that come standard in this new home.

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

Zip Code: 78621

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k298k

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

Zip Code: 78621

ZipNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5101723

* 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
Neidig Elementary School Primary Regular 626 42 2
Elgin Middle School Middle Regular 926 56 3
Elgin High School High Regular 1,299 80 4

Neidig Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 42
2
GreatSchools Rating

Elgin Middle School

  • Education Level: Middle
  • # of students: 926
  • # of teachers: 56
3
GreatSchools Rating

Elgin High School

  • Education Level: High
  • # of students: 1,299
  • # of teachers: 80
4
GreatSchools Rating
 

$255,510$312,290$283,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$986
Property Tax -$690
Property Insurance -$170
HOA -$25
Property Management Fees -$99
CASH FLOW
-$130

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$283,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.13%
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-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,234

INVESTMENT

$77,234

Down Payment
$70,975
Rehab Estimate
$2,000
Closing Costs
$4,259

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$986

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,975
Loan Amount $212,925
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,840
$1,840
RENT COMPS ANALYSIS
  • 14525 Prairie Sod Lane Elgin, TX 2
    • 5 beds 3 baths ∙ 2,542 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,542 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.72
    •  
  • 105 Jefferson Elgin, TX 1
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2006
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
PROPERTY LISTING DETAILS
Mona Hill
1.800.846.3085
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9556486
Last Updated: 01/14/2021
BESbswy