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18516 Quiet Range Drive Elgin, TX 78621

4 Beds 2 Baths 1,794 sqft Built 2020

$240,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $134.28
  • 4 Days on Market
  • MLS # : 9086442
  • Updated Date : 11/12/2020 at 22:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,794 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Medina plan is a new single-story home at Homestead Estates. This home comes with 4 bedrooms, 2 baths, an open layout and an attached 2-car garage. In addition, this boasts incredible included upgrades such as energy-efficient kitchen appliances, gorgeous countertops, designer wood cabinets, and a private master suite with large walk-in closet. Schedule your tour of the beautiful Medina plan at Homestead Estates today!

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: 78621

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k298k

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

Zip Code: 78621

ZipNIR 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
 

$216,810$264,990$240,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$889
Property Tax -$586
Property Insurance -$128
HOA -$25
Property Management Fees -$134
CASH FLOW
-$91

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$240,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.69%

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) 3.00%
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-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,839

INVESTMENT

$65,839

Down Payment
$60,225
Rehab Estimate
$2,000
Closing Costs
$3,614

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$889

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,225
Loan Amount $180,675
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,424

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4453$1,4654$1,5205$1,670
$1,670
RENT COMPS ANALYSIS
  • 18516 Quiet Range Drive Elgin, TX 5
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.93
    •  
  • 18732 Imperial Eagle Lane Elgin, TX 1
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2004
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.89
    •  
  • 14416 Gurneys Eagle Dr Elgin, TX 2
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.89
    •  
  • 14400 Gurneys Eagle Drive Elgin, TX 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,465
    • $0.90
    •  
  • 14513 Martial Eagle Drive Elgin, TX 4
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2015
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.92
    •  
PROPERTY LISTING DETAILS
Mona Hill
1.800.846.3085
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9086442
Last Updated: 11/12/2020
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