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1608 Bush Coat Lane Austin, TX 78754

3 Beds 2 Baths 1,636 sqft Built 2004

$296,200

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $181.05
  • 4 Days on Market
  • MLS # : 7048086
  • Updated Date : 12/10/2020 at 21:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,636 sqft
  • Baths : 2 full
Listing Agent

Re/max Military City

Listing Agent's Description

Come and see this desirable 3 bedroom, 2 bathroom brick home in the heart of Pioneer Crossing! This home provides high vaulted ceilings, formal dining, and a spacious open floor plan that overlooks the kitchen plus includes a wood-burning fireplace in the living area. Retreat to the primary suite which includes access to a spa-like en suite bathroom, complete with a separate tub and shower, and elegant fixtures. Step outside to the large covered patio that overlooks a spacious private yard! You will enjoy easy access to I-35, Hwy 183, parks, and restaurants.

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: Pioneer Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $125k378k

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

Neighborhood: Pioneer Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8111966

* 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
Pioneer Crossing Elementary School Primary Regular 652 38 5
Decker Middle School Middle Regular 912 54 3
Manor New Technology High School High Regular 385 30 8

Pioneer Crossing Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 38
5
GreatSchools Rating

Decker Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
3
GreatSchools Rating

Manor New Technology High School

  • Education Level: High
  • # of students: 385
  • # of teachers: 30
8
GreatSchools Rating
 

$266,580$325,820$296,200

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,093
Property Tax -$582
Property Insurance -$119
HOA -$39
Property Management Fees -$99
CASH FLOW
-$292

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.

$296,200

PROJECTED PRICE

$1,640

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,243

INVESTMENT

$84,243

Down Payment
$74,050
Rehab Estimate
$5,750
Closing Costs
$4,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,093

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,050
Loan Amount $222,150
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$840

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1608 Bush Coat Lane Austin, TX 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.00
    •  
  • 1709 Bush Coat Lane Austin, TX 2
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 1704 Bowerton Drive Austin, TX 3
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 2004
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
  • 11509 Satchel Drive Austin, TX 4
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2014
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 1604 Bush Coat Lane Austin, TX 5
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2004
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
Levi Rodgers
1.210.331.7000
Re/max Military City
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7048086
Last Updated: 12/10/2020
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