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16806 Cree Lake Court Leander, TX 78641

4 Beds 3 Baths 2,178 sqft Built 1994

$310,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $142.33
  • 123 Days on Market
  • MLS # : 1160440
  • Updated Date : 09/14/2020 at 11:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

BLOCK HOUSE CREEK SUBDVI. 2 story, 4 bed, 2.5 bath house, office/flex room or formal dining, updated baths, walk-in master shower with 2 shower heads, large guest rooms, walk-in closets, hardwood and tile down, carpet up, large covered patio, and MORE!!!Guest Accommodations: Yes Restrictions: Yes

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: 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,077
Property Tax -$752
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
-$287

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.

$310,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.58%

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$1.0M

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7854$1,7905$1,995
$1,995
RENT COMPS ANALYSIS
  • 16806 Cree Lake Ct Leander, TX 4
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.82
    •  
  • 2706 Turtle River Dr Leander, TX 1
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 2001
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 2701 Turtle River Dr Leander, TX 2
    • 4 beds 3 baths ∙ 2,063 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,063 Sqft ∙ Built 2002
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 15327 English River Loop Leander, TX 3
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 2010
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.86
    •  
  • 15352 English River Loop Leander, TX 5
    • 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1992
    property image
    LEASED 11/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
Virginia Mahan
1.817.404.9203
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1160440
Last Updated: 09/14/2020
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