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1604 Shady Creek Trl Cedar Park, TX 78613

4 Beds 3 Baths 2,814 sqft Built 1999

INVESTimate

$350,000

List Price

$2,170

$1,953 - $2,387

Rent Est.

$368,900  ( +5.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $124.38
  • 8 Days on Market
  • MLS # : 1893205
  • Updated Date : 08/21/2020 at 09:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,814 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This home needs some TLC!

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: Ranch at Deer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Ranch at Deer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9972481

* 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
Deer Creek Elementary School Primary Regular 742 44 9
Cedar Park Middle School Middle Regular 1,396 74 9
Cedar Park High School High Regular 1,871 112 8

Deer Creek Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 44
9
GreatSchools Rating

Cedar Park Middle School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 74
9
GreatSchools Rating

Cedar Park High School

  • Education Level: High
  • # of students: 1,871
  • # of teachers: 112
8
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,291
Property Tax -$790
Property Insurance -$185
Property Management Fees -$174
CASH FLOW
-$270

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.

$350,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,230

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1703$2,1804$2,3505$2,375
$2,375
RENT COMPS ANALYSIS
  • 1604 Shady Creek Trl Cedar Park, 2
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.77
    •  
  • 1303 Pagedale Dr Cedar Park, 1
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1998
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 1509 Shady Creek Trl Cedar Park, 3
    • 4 beds 3 baths ∙ 2,841 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,841 Sqft ∙ Built 2001
    property image
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.77
    •  
  • 833 Zappa Dr Cedar Park, 4
    • 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,826 Sqft ∙ Built 2007
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
  • 1718 Bow Ridge Dr Cedar Park, 5
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1995
    property image
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.82
    •  
PROPERTY LISTING DETAILS
Harold Mcgee
1.512.626.6470
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1893205
Last Updated: 08/21/2020
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