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15505 Barrie Drive Lakeway, TX 78734

4 Beds 3 Baths 2,402 sqft Built 2013

$550,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $228.98
  • 4 Days on Market
  • MLS # : 2547528
  • Updated Date : 02/26/2021 at 05:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,402 sqft
  • Baths : 3 full
Listing Agent

Moreland Properties

Listing Agent's Description

Single story CONTEMPORARY in the Preserve at LAKEWAY! This PRIVATE home is located at the end of the street with additional parking and the seclusion of a greenbelt/easement. Enjoy one of the LOWEST tax rates in the area at +/-2.1%, save money every month! Zoned for the EXEMPLARY Lakeway Elementary and offering convenient access to 620, shopping, schools, hospital, and more! Polished concrete floors, throughout, keeps the utilities low in the summer months and makes for a clean, easy to maintain home. OPEN layout unites your family and friends in the kitchen, dining, and living rooms. Additional living space with oversized barn door slides open or can stay closed to minimize sound and increase privacy. 4 large bedrooms including a bright and serene master retreat offering a large walk-in closet and oversized shower. Three full bathrooms, high ceilings, and a white/grey palate make this a universally loved home! The covered porch overlooks the private lawn that features fig, olive, and oak trees!

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: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k540k

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

Neighborhood: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9972987

* 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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,910
Property Tax -$1,012
Property Insurance -$162
HOA -$18
Property Management Fees -$99
CASH FLOW
-$421

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.

$550,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,564

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4953$2,4984$2,6005$2,780
$2,780
RENT COMPS ANALYSIS
  • 15505 Barrie Drive Lakeway, TX 5
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.16
    •  
  • 518 B S Meadowlark Street #b Lakeway, TX 1
    • 3 beds 3 baths ∙ 2,326 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,326 Sqft ∙ Built 2014
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 11 Green Terrace Cove Lakeway, TX 2
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2006
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.09
    •  
  • 10 White Magnolia Circle Austin, TX 3
    • 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,250 Sqft ∙ Built 2006
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,498
    • $1.11
    •  
  • 520 S Meadowlark Street #a Lakeway, TX 4
    • 4 beds 4 baths ∙ 2,500 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,500 Sqft ∙ Built 2015
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
April Womack
Moreland Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2547528
Last Updated: 02/26/2021
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