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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $186.35
- 2 Days on Market
- MLS # : 3031889
- Updated Date : 12/19/2020 at 22:02
CONSTRUCTION
- Beds : 3
- Floor Size : 1,449 sqft
- Baths : 2 full
Listing Agent
Legacy Austin Realty
Listing Agent's Description
Brand new home located in the beautiful Cool Springs community. Welcome to the Barstow floor plan. Equipped with a covered front and back patio, stainless steel appliances, wood floors, upgraded 42” cabinets, center island, and granite countertops. Walk in shower in the master bathroom. Enjoy three fishing ponds, new community pool, and future frisbee golf course. “Texas-sized” park is planned for 2020. Wide streets and comfortable homesites provide a spacious and relaxing feel. No investor sales. Milestone Community Builders.
SEE MORE
- #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
Zip Code: 78640
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 78640
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,610 |
| EXPENSES | Loan Payment | -$996 |
| Property Tax | -$622 | |
| Property Insurance | -$109 | |
| HOA | -$50 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$266
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.
$270,025
PROJECTED PRICE
$1,610
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 6.3% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.72% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,557
LOAN DETAILS
$996
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $67,506 |
| Loan Amount | $202,519 |
0.5
YEARS SAVED
$632
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 -
$1.11
LIST RENT PER SQFT
-
$1,608
COMP ESTIMATED VALUE -
$1.11
COMP AVG. RENT PER SQFT
Comps Range
-
174 Salt Springs Road Kyle, TX 2
- 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $1,610
- $1.11
-
320 Evening Star Dr Kyle, TX 1
- 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2005
LEASED 06/09/20- Rent
- Rent Per SQFT
- $1,600
- $1.12
-
294 Sunnyside Dr Kyle, TX 3
- 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2010
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,675
- $1.06
-
259 Jackson Blue Ln Kyle, TX 4
- 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2018
LEASED 08/20/20- Rent
- Rent Per SQFT
- $1,795
- $1.11
-
237 Evening Star Kyle, TX 5
- 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2014
LEASED 09/05/20- Rent
- Rent Per SQFT
- $1,795
- $1.15
PROPERTY LISTING DETAILS
1.512.468.0241
Legacy Austin Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 3031889
Last Updated: 12/19/2020
