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172 Matthews Lane Kyle, TX 78640

3 Beds 2 Baths 1,710 sqft Built 2013

$240,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $140.35
  • 4 Days on Market
  • MLS # : 5376434
  • Updated Date : 11/20/2020 at 01:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,710 sqft
  • Baths : 2 full
Listing Agent

Tx Brokers

Listing Agent's Description

This charming move in ready home features custom wood window casings, rustic wood shelving, archways, and beautiful white cabinetry, that give it an inviting farmhouse feel. In addition to the 3 bedrooms, there is also a flex space that would be perfect for a home office or a second living area. The spacious master bedroom features a walk in closet, dual sinks, and a large window that lets in plenty of natural light. This beauty has been extremely well cared for and is ready for its new owners!

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$886
Property Tax -$552
Property Insurance -$123
HOA -$32
Property Management Fees -$129
CASH FLOW
-$112

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.

$240,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6753$1,6754$1,6755$1,800
$1,800
RENT COMPS ANALYSIS
  • 172 Matthews Lane Kyle, TX 1
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.94
    •  
  • 941 Apricot Drive Kyle, TX 2
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2013
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.99
    •  
  • 534 Apricot Drive Kyle, TX 3
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2009
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.99
    •  
  • 294 Sunnyside Drive Kyle, TX 4
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2010
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.06
    •  
  • 770 New Bridge Dr Kyle, TX 5
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 2009
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
PROPERTY LISTING DETAILS
Michelle Poremski
1.281.636.0211
Tx Brokers
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5376434
Last Updated: 11/20/2020
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