Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

18505 Mckay Cove Austin, TX 78738

3 Beds 2 Baths 1,992 sqft Built 2016

$445,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $223.39
  • 4 Days on Market
  • MLS # : 8279360
  • Updated Date : 01/31/2021 at 00:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Network

Listing Agent's Description

Beautiful single-story home in Sweetwater! Great floor plan with 3 bedrooms, 2 baths, plus an office with French doors, open kitchen and living area. High ceilings and walls of windows bring in lots of light. Modern, neutral color scheme, with wood-look tile in main living areas and vinyl-plank floors in all bedrooms. No carpet! Quartz counters, stainless steel appliances and walk-in pantry in kitchen. Upgraded Elfa storage in closets. Freshly painted inside! Water softener, sprinkler system. Residents enjoy resort-style amenities, including 2 pools and clubhouses, fitness center, and hiking trails. Students attend Lake Travis ISD schools.

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: 78738

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $136k768k

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

Zip Code: 78738

ZipNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000320034003600Rent in $9973714

* 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
West Cypress Hills Elementary School Primary Unknown 525 32 NA
Lake Travis Middle School Middle Regular 1,066 64 10
Lake Travis High School High Regular 2,561 141 8

West Cypress Hills Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 32
NA
GreatSchools Rating

Lake Travis Middle School

  • Education Level: Middle
  • # of students: 1,066
  • # of teachers: 64
10
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,546
Property Tax -$1,198
Property Insurance -$139
HOA -$63
Property Management Fees -$99
CASH FLOW
-$385

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.

$445,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.15%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,759

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,545
1$2,5452$2,6603$2,8604$2,9505$2,995
$2,995
RENT COMPS ANALYSIS
  • 18505 Mckay Cove Austin, TX 2
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.34
    •  
  • 18401 Deep Well Drive Austin, TX 1
    • 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2014
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $1.26
    •  
  • 18509 Tanner Bayou Loop Austin, TX 3
    • 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2014
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.40
    •  
  • 18408 Deep Well Drive Austin, TX 4
    • 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2013
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.44
    •  
  • 5505 Brady Bayou Cove Austin, TX 5
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 2015
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.44
    •  
PROPERTY LISTING DETAILS
Shannon Mangin
1.512.897.4349
Century 21 Realty Network
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8279360
Last Updated: 01/31/2021
BESbswy