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1708 Bowerton Drive Austin, TX 78754

3 Beds 2 Baths 1,700 sqft Built 2004

$300,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $176.47
  • 3 Days on Market
  • MLS # : 9266546
  • Updated Date : 11/29/2020 at 00:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming single story home in desirable Pioneer Crossing West*Open concept floor plan with high ceilings & separate study*Beautiful wood laminate flooring throughout living spaces*French doors*Plantation shutters*Recessed lighting*Walk-in closets in all bedrooms*Spacious kitchen with nice countertop/cabinet space*Built-in shelving in laundry room*Updated light fixtures*Garden tub, separate shower and dual sinks in master suite*Carpet replaced in 2016*Gutters*Beautifully maintained and landscaped backyard with raised garden beds and storage shed*Fantastic HOA amenities, including trails, parks and 2 playgrounds*Pioneer Crossing West public pool just minutes away*Great location, close to Walnut Creek greenbelt/trails & to major employers like Dell/Samsung/GM; only 7 miles to the Domain and 11 miles to downtown Austin

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: Pioneer Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $125k378k

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

Neighborhood: Pioneer Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8111966

* 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
Pioneer Crossing Elementary School Primary Regular 652 38 5
Decker Middle School Middle Regular 912 54 3
Manor New Technology High School High Regular 385 30 8

Pioneer Crossing Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 38
5
GreatSchools Rating

Decker Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
3
GreatSchools Rating

Manor New Technology High School

  • Education Level: High
  • # of students: 385
  • # of teachers: 30
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,107
Property Tax -$590
Property Insurance -$123
HOA -$39
Property Management Fees -$134
CASH FLOW
-$313

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.

$300,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.9%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% 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 $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1708 Bowerton Drive Austin, TX 2
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.99
    •  
  • 1709 Bush Coat Ln Austin, TX 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 11700 Larch Valley Drive Austin, TX 3
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2008
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 1704 Bowerton Drive Austin, TX 4
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 2004
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
  • 1604 Bush Coat Lane Austin, TX 5
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
Gary Gentry
1.512.466.1843
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9266546
Last Updated: 11/29/2020
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