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

153 Morning Glow Road Kyle, TX 78640

3 Beds 3 Baths 2,085 sqft Built 2020

$297,590

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $142.73
  • 3 Days on Market
  • MLS # : 3104228
  • Updated Date : 12/18/2020 at 17:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,085 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ctx Listings, Llc

Listing Agent's Description

Ames B plan. Large owners suite, game room, corner lot. Estimated April 2021 completion.

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: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$267,831$327,349$297,590

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,098
Property Tax -$685
Property Insurance -$144
HOA -$50
Property Management Fees -$99
CASH FLOW
-$326

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$297,590

PROJECTED PRICE

$1,750

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,861

INVESTMENT

$80,861

Down Payment
$74,398
Rehab Estimate
$2,000
Closing Costs
$4,464

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,098

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,398
Loan Amount $223,193
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6704$1,6855$1,750
$1,750
RENT COMPS ANALYSIS
  • 153 Morning Glow Road Kyle, TX 5
    • 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 321 New Bridge Drive Kyle, TX 1
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2015
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 133 Gina Drive Kyle, TX 2
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2012
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 321 Apricot Drive Kyle, TX 3
    • 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,082 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.80
    •  
  • 350 Gina Drive Kyle, TX 4
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2013
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.86
    •  
PROPERTY LISTING DETAILS
Matthew Ikard
1.512.666.9661
Ctx Listings, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3104228
Last Updated: 12/18/2020
BESbswy