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16306 Rocky Ridge Road Austin, TX 78734

3 Beds 3 Baths 1,758 sqft Built 2000

$425,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $241.75
  • 4 Days on Market
  • MLS # : 8150793
  • Updated Date : 12/17/2020 at 16:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams - Lake Travis

Listing Agent's Description

Hidden Hudson Bend gem. Large front and private back yard. Property features a 1440sf (per tax record) shop with power, water and an office. Backyard outbuilding was used as an art studio. 2 story home with eat in kitchen that is open to living room. Primary Bed and bath downstairs. Back patio is huge, covered and connected to the shop. Great location to Lake Travis. Must contact listing agent to schedule showing.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hudson Bend

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k474k

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

Neighborhood: Hudson Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9972462

* 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
Lake Travis Elementary School Primary Regular 888 58 8
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Lake Travis Elementary School

  • Education Level: Primary
  • # of students: 888
  • # of teachers: 58
8
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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,568
Property Tax -$836
Property Insurance -$126
HOA -$3
Property Management Fees -$99
CASH FLOW
-$442

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.

$425,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,224

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$2,1003$2,1904$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 16306 Rocky Ridge Road Austin, TX 3
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.25
    •  
  • 15602 Enid Dr Austin, TX 1
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 1996
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.24
    •  
  • 6407 Hopkins Dr Austin, TX 2
    • 3 beds 3 baths ∙ 1,514 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,514 Sqft ∙ Built 2014
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.39
    •  
  • 5107 Cree Lane Austin, TX 4
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1999
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
  • 16405 Forest Way Austin, TX 5
    • 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,815 Sqft ∙ Built 2012
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.24
    •  
PROPERTY LISTING DETAILS
Kristi Plotkin
1.512.541.5220
Keller Williams - Lake Travis
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8150793
Last Updated: 12/17/2020
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