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1538 Mckinney Drive Leander, TX 78641

3 Beds 3 Baths 1,729 sqft Built 2020

$271,840

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $157.22
  • 10 Days on Market
  • MLS # : 4738252
  • Updated Date : 10/27/2020 at 16:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,729 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gehan Homes

Listing Agent's Description

Two Story Townhome Featuring Family & Loft Spaces on a partial cul-de-sac lot. Upgraded Appliance Package, Added LED Lights in Family & Master, Second Sink at Master, Master Shower with Seat, Pre-Plumb for Water Softener Loop and Extended Covered Patio. See agent for details on finish out. Available estimated for April.

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Plain Elementary School Primary Regular 850 55 5
Wiley Middle School Middle Regular 967 63 8
Glenn High School High Unknown NA

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$244,656$299,024$271,840

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,003
Property Tax -$532
Property Insurance -$124
HOA -$44
Property Management Fees -$150
CASH FLOW
$26

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.

$271,840

PROJECTED PRICE

$1,880

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,038

INVESTMENT

$74,038

Down Payment
$67,960
Rehab Estimate
$2,000
Closing Costs
$4,078

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,003

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,960
Loan Amount $203,880
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,872

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7954$1,880
$1,880
RENT COMPS ANALYSIS
  • 1538 Mckinney Drive Leander, TX 4
    • 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.09
    •  
  • 1332 Low Branch Lane Leander, TX 1
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2019
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 1304 Low Branch Lane Leander, TX 2
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2019
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 1344 Low Branch Ln Leander, TX 3
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2019
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.11
    •  
PROPERTY LISTING DETAILS
April Maki
1.512.601.6597
Gehan Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4738252
Last Updated: 10/27/2020
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