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1613 Mcdowell Bend Leander, TX 78641

4 Beds 2 Baths 1,682 sqft Built 2003

$289,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $172.35
  • 5 Days on Market
  • MLS # : 1270749
  • Updated Date : 02/11/2021 at 22:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,682 sqft
  • Baths : 2 full
Listing Agent

Sean Austin Realty

Listing Agent's Description

Newly remodeled 4 bedroom, 2 bath home in desirable Block House Creek Neighborhood. This charming home has new Vinyl Plank wood-look flooring throughout. Step through the foyer to the living room's vaulted ceilings and open dining room. Crisp, clean kitchen features granite counter tops, center island, walk in pantry, and breakfast area for additional dining. Master bathroom has garden tub, separate shower and vanity with built in sitting area. Covered patio out back opens to spacious yard complete with storage shed. Block House is a great community with a community park, walking trails, athletic courts and swimming pools. Walking distance to HEB Center.

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: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $125k298k

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211744

* 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
Block House Creek Elementary School Primary Regular 655 44 8
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Block House Creek Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 44
8
GreatSchools Rating

Wiley Middle School

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

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,007
Property Tax -$703
Property Insurance -$122
HOA -$11
Property Management Fees -$99
CASH FLOW
-$241

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.

$289,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.7%
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-$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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,7004$1,780
$1,780
RENT COMPS ANALYSIS
  • 1613 Mcdowell Bend Leander, TX 3
    • 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,682 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 2813 Greenlee Drive Leander, TX 1
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 2810 Turtle River Dr Leander, TX 2
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 2002
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 2600 Greenlee Drive Leander, TX 4
    • 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.98
    •  
PROPERTY LISTING DETAILS
Sean Mccormack
Sean Austin Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1270749
Last Updated: 02/11/2021
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