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1610 Frontier Valley Drive Austin, TX 78741

3 Beds 3 Baths 1,982 sqft Built 2016

$475,000

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $239.66
  • 3 Days on Market
  • MLS # : 5671065
  • Updated Date : 01/16/2021 at 02:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,982 sqft
  • Baths : 3 full
Listing Agent

Realty Austin

Listing Agent's Description

Pride of ownership shines through in this gorgeous 3 bedroom, 3 bath in Park East. From the moment you step into the perfectly designed, open concept floor plan, you will immediately feel at home. 10' ceilings, neutral colored walls and tile flooring span throughout the main floor. Entertainers will fall in love with how light and open the main floor is with windows and a 9' sliding glass door across one wall. The spacious kitchen is an absolute joy to cook in with ample space to move about and prepare meals, an extended center island, sleek black appliances and an abundance of cabinet space for essentials. The main floor guest bedroom can also be used as a quiet space to work from home. Head upstairs to 2 bedrooms, including the owner's suite, and a great flex space. Wake up feeling refreshed in this large owner's suite that boasts an ensuite bath and large walk-in closet. Lounge or bring the party outside onto the expansive back patio. This home also comes complete with a fully automatic sprinkler system, storage galore in the 2 car garage and professionally installed window coverings on each window throughout the house. Conveniently located near shopping, dining and major highways, making this the perfect place to call home. This home would also be a great investment opportunity as it's minutes from Oracle and the Tesla Gig Factory!

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: Montopolis

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $87k378k

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

Neighborhood: Montopolis

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7631966

* 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
Smith Elementary School Primary Regular 830 52 5
John P Ojeda Middle School Middle Regular 963 78 2
Del Valle High School High Regular 2,851 171 3

Smith Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 52
5
GreatSchools Rating

John P Ojeda Middle School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 78
2
GreatSchools Rating

Del Valle High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 171
3
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$1,650
Property Tax -$934
Property Insurance -$139
HOA -$60
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 14% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$2,590

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,596

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5903$2,5954$2,5955$2,800
$2,800
RENT COMPS ANALYSIS
  • 1610 Frontier Valley Drive Austin, TX 2
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.31
    •  
  • 1612 Frontier Valley Drive Austin, TX 1
    • 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 2017
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.22
    •  
  • 1511 Arcilla Street Austin, TX 3
    • 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2018
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.32
    •  
  • 1609 Arcilla Street Austin, TX 4
    • 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2017
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.33
    •  
  • 1704 Frontier Valley Drive Austin, TX 5
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2016
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.37
    •  
PROPERTY LISTING DETAILS
Katie Hobbs
1.512.947.7707
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5671065
Last Updated: 01/16/2021
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