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15100 Mettle Drive Austin, TX 78734

3 Beds 2 Baths 1,417 sqft Built 1984

$345,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $243.47
  • 5 Days on Market
  • MLS # : 1196728
  • Updated Date : 02/25/2021 at 02:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,417 sqft
  • Baths : 2 full
Listing Agent

Atx Property Group

Listing Agent's Description

This sweet three bedroom, two bath home is uniquely centered in Lakeway. Surrounded by large trees and recently updated inside, it also has an added bonus of an oversized privately fenced back yard, featuring two patios. You will be minutes from incredible shopping and dinning! The best part is this home is located in the prestigious Lake Travis School District.

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: Travis Oak Trails

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Travis Oak Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Lakeway Elementary School Primary Regular 701 42 9
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Lakeway Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 42
9
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,198
Property Tax -$678
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$273

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.

$345,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,729

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,9003$1,9504$2,100
$2,100
RENT COMPS ANALYSIS
  • 15100 Mettle Drive Austin, TX 1
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.28
    •  
  • 15108 S Flamingo Dr Austin, TX 2
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1995
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.30
    •  
  • 15105 Mettle Drive Austin, TX 3
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.24
    •  
  • 309 Meadowlark Street #b Lakeway, TX 4
    • 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 2010
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.29
    •  
PROPERTY LISTING DETAILS
Britney Cross
Atx Property Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1196728
Last Updated: 02/25/2021
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