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18317 Sierra Wind Cove Elgin, TX 78621

3 Beds 2 Baths 1,610 sqft Built 2006

$199,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $124.16
  • 4 Days on Market
  • MLS # : 5250959
  • Updated Date : 01/29/2021 at 03:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,610 sqft
  • Baths : 2 full
Listing Agent

Beacon Pointe Realty

Listing Agent's Description

This is a MUST SEE, beautiful light and bright home located in a low traffic cul-de-sac. The property backs to a green belt and is within walking and viewing distance to the playground! The home features luxury vinyl plank floors as well as fresh paint on the exterior trim and throughout most of the interior of the home. A NEW Whirlpool Black/Stainless Steel 5 Burner Gas Range was purchased and installed in July 2019 and a new outside A/C Unit in July of 2020. New light fixtures and celings fans have been installed throughout the home as well as technology updates including a Nest Thermostat, front door keypad and Ring Doorbell. The location is perfect with a short commute to Austin and within a 5 minute drive to shopping and restaurants.

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

Neighborhood: Westwind

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $96k298k

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

Neighborhood: Westwind

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
Neidig Elementary School Primary Regular 626 42 2
Elgin Middle School Middle Regular 926 56 3
Elgin High School High Regular 1,299 80 4

Neidig Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 42
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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$694
Property Tax -$494
Property Insurance -$118
HOA -$25
Property Management Fees -$99
CASH FLOW
-$20

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.

$199,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$6,787

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4103$1,4954$1,500
$1,500
RENT COMPS ANALYSIS
  • 18317 Sierra Wind Cove Elgin, TX 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.88
    •  
  • 18420 Cloudmore Ln Elgin, TX 1
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2011
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 18304 Rock Sage Cove Elgin, TX 3
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2013
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
  • 18400 Weatherby Lane Elgin, TX 4
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 2014
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kristin Schroeder
1.512.924.9635
Beacon Pointe Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5250959
Last Updated: 01/29/2021
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