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1520 Verdana Drive Austin, TX 78753

4 Beds 3 Baths 2,587 sqft Built 2015

$369,999

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $143.02
  • 4 Days on Market
  • MLS # : 2906655
  • Updated Date : 12/06/2020 at 00:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,587 sqft
  • Baths : 2 full , 1 half
Listing Agent

Agency Texas Inc

Listing Agent's Description

CONTACT LA:1 ANALEISA BARRON 512.902.9147** A beautiful retreat offering tons of natural light. This home has been meticulously cared for and lightly lived in. Less than 2 miles from the Metro with a built in office this home gives the space needed to work from home or entertain a large family. All new appliances to convey!!!!! GO starting Friday 12/4 through the weekend!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Northeast Austin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $106k378k

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

Neighborhood: Northeast Austin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7761966

* 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
Dessau Elementary School Primary Regular 508 35 4
Dessau Middle School Middle Regular 817 60 3
Connally High School High Regular 1,934 138 4

Dessau Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 35
4
GreatSchools Rating

Dessau Middle School

  • Education Level: Middle
  • # of students: 817
  • # of teachers: 60
3
GreatSchools Rating

Connally High School

  • Education Level: High
  • # of students: 1,934
  • # of teachers: 138
4
GreatSchools Rating
 

$332,999$406,999$369,999

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,365
Property Tax -$728
Property Insurance -$173
HOA -$26
Property Management Fees -$99
CASH FLOW
-$180

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$369,999

PROJECTED PRICE

$2,210

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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 $277,499
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,367

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2104$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 1520 Verdana Drive Austin, TX 3
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.85
    •  
  • 12413 Comic Drive Austin, TX 1
    • 3 beds 3 baths ∙ 2,417 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,417 Sqft ∙ Built 2016
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 12409 Calibri Lane Austin, TX 2
    • 5 beds 4 baths ∙ 2,466 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,466 Sqft ∙ Built 2017
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 1405 Berlin Lane Austin, TX 4
    • 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2015
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
  • 1521 Berlin Lane Austin, TX 5
    • 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 2014
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
PROPERTY LISTING DETAILS
Thomas Brown
1.512.619.6559
Agency Texas Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2906655
Last Updated: 12/06/2020
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