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1705 Barrilla St Cedar Park, TX 78613

3 Beds 3 Baths 2,890 sqft Built 2000

INVESTimate

$299,900

List Price

$2,020

$1,818 - $2,222

Rent Est.

$320,023  ( +6.71%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $103.77
  • 6 Days on Market
  • MLS # : 2451427
  • Updated Date : 08/24/2020 at 22:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,890 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pure Realty

Listing Agent's Description

ABSOLUTE BARGAIN! UNBELIEVABLE PRICE! Priced low and firm for your pre-approved buyer who wants a great deal on a super home. It won't last long at this low, low price so do your buyer a favor and hurry to write a squeaky clean full price offer now and save yourself all fun of a full price counter offer! Don't miss the golden opportunity for a fantastic deal at this desirable location in Cedar Park. Great home inside and out. Nice backyard.

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: Ranch at Cypress Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Ranch at Cypress Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Westside Elementary School Primary Regular 562 39 8
Cedar Park Middle School Middle Regular 1,396 74 9
Cedar Park High School High Regular 1,871 112 8

Westside Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 39
8
GreatSchools Rating

Cedar Park Middle School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 74
9
GreatSchools Rating

Cedar Park High School

  • Education Level: High
  • # of students: 1,871
  • # of teachers: 112
8
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

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$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,107
Property Tax -$684
Property Insurance -$190
Property Management Fees -$162
CASH FLOW
-$122

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.

$299,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.71%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,059

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9653$2,0204$2,1505$2,180
$2,180
RENT COMPS ANALYSIS
  • 1705 Barrilla St Cedar Park, 3
    • 3 beds 3 baths ∙ 2,890 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,890 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.70
    •  
  • 1508 Avery Elissa Ln Cedar Park, 1
    • 3 beds 3 baths ∙ 2,743 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,743 Sqft ∙ Built 1996
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 2117 Rachel Rdg Cedar Park, 2
    • 3 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $0.69
    •  
  • 1902 Cupolla Mtn Cedar Park, 4
    • 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 1998
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.70
    •  
  • 1509 Shady Creek Trl Cedar Park, 5
    • 4 beds 3 baths ∙ 2,841 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,841 Sqft ∙ Built 2001
    property image
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jeremy Kritt
1.512.777.5562
Pure Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2451427
Last Updated: 08/24/2020
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