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18020 Majestic Elm Lane Elgin, TX 78621

4 Beds 2 Baths 1,538 sqft Built 2006

$253,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $165.08
  • 2 Days on Market
  • MLS # : 4436425
  • Updated Date : 07/12/2021 at 19:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,538 sqft
  • Baths : 2 full
Listing Agent

Winkler & Co Realtors, Menley

Listing Agent's Description

Great 4 bedroom rental, priced below comps. Rented for $1445 through 5/31/2022. Open floorplan. Pictures are from less than a week ago and reflect current condition of home. Stable tenants. One car garage with extra storage. Corner lot! This property needs to be financed with an investor type loan due to the lease.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Elm Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k298k

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

Neighborhood: Elm Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5101723

* 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
Elgin Elementary School Primary Regular 782 47 2
Elgin Middle School Middle Regular 926 56 3
Elgin High School High Regular 1,299 80 4

Elgin Elementary School

  • Education Level: Primary
  • # of students: 782
  • # of teachers: 47
2
GreatSchools Rating

Elgin Middle School

  • Education Level: Middle
  • # of students: 926
  • # of teachers: 56
3
GreatSchools Rating

Elgin High School

  • Education Level: High
  • # of students: 1,299
  • # of teachers: 80
4
GreatSchools Rating
 

$228,510$279,290$253,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$882
Property Tax -$640
Property Insurance -$114
HOA -$37
Property Management Fees -$99
CASH FLOW
-$142

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$253,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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

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$73,034

INVESTMENT

$73,034

Down Payment
$63,475
Rehab Estimate
$5,750
Closing Costs
$3,809

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,475
Loan Amount $190,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,5004$1,5855$1,630
$1,630
RENT COMPS ANALYSIS
  • 18020 Majestic Elm Lane Elgin, TX 5
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.06
    •  
  • 17825 Aleppo Pine Trail Elgin, TX 1
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 2005
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 13025 Maidenhair Trail Elgin, TX 2
    • 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 2003
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.04
    •  
  • 13032 Date Palm Trail Elgin, TX 3
    • 4 beds 2 baths ∙ 1,448 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,448 Sqft ∙ Built 2007
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 17800 Rye Spring Drive Elgin, TX 4
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2020
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.08
    •  
PROPERTY LISTING DETAILS
Sandy Menley
Winkler & Co Realtors, Menley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4436425
Last Updated: 07/12/2021
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