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176 Johnny Cake Drive Kyle, TX 78640

3 Beds 2 Baths 1,491 sqft Built 2019

$271,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $182.36
  • 114 Days on Market
  • MLS # : 5275549
  • Updated Date : 12/24/2020 at 02:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,491 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Vacant contemporary 1 story beauty w/ 2.5 car garage conveniently overlooks a community park! Inside features 9 ft. ceilings, cordless blinds, designer light fixtures, water softener, luxury vinyl flooring throughout home & a bright open layout that's ideal for entertaining. Kitchen contains white maple cabinets, Arctic Pearl granite counters & tile back splash. Enjoy a large extended covered patio, sprinkler system, & close to Kyle Elementary, Wallace Middle School, public library & easy access to I-35.Restrictions: Yes Sprinkler Sys:Yes

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

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
Negley Elementary School Primary Regular 751 46 6
Barton Middle School Middle Regular 1,016 53 8
Hays High School High Regular 2,409 121 6

Negley Elementary School

  • Education Level: Primary
  • # of students: 751
  • # of teachers: 46
6
GreatSchools Rating

Barton Middle School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 53
8
GreatSchools Rating

Hays High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 121
6
GreatSchools Rating
 

$244,710$299,090$271,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,003
Property Tax -$626
Property Insurance -$111
HOA -$20
Property Management Fees -$99
CASH FLOW
-$289

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.

$271,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.58%

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) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,054

INVESTMENT

$74,054

Down Payment
$67,975
Rehab Estimate
$2,000
Closing Costs
$4,079

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,003

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,975
Loan Amount $203,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,5004$1,5505$1,570
$1,570
RENT COMPS ANALYSIS
  • 176 Johnny Cake Dr Kyle, TX 5
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.05
    •  
  • 221 Princess Jennifer Dr Kyle, TX 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1999
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
  • 107 Auction Oak Kyle, TX 2
    • 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2006
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.06
    •  
  • 364 Wetzel Kyle, TX 3
    • 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2005
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 1070 Apricot Ln Kyle, TX 4
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2019
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
PROPERTY LISTING DETAILS
Nathan Ortiz
1.512.522.1559
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5275549
Last Updated: 12/24/2020
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