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186 Cistern Way Austin, TX 78737

4 Beds 3 Baths 2,785 sqft Built 2020

$610,841

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $219.33
  • 7 Days on Market
  • MLS # : 9771166
  • Updated Date : 12/02/2020 at 01:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,785 sqft
  • Baths : 3 full
Listing Agent

Ctx Listings, Llc

Listing Agent's Description

Welcome to one of Village Builders Newest floor plans the Mateo located in the brand new master planned community of Parten. With tall 12 ft ceilings, open airy kitchen and living room the Mateo offers a newly designed layout which speaks to today's families. The Mateo offers ample storage opportunities with a massive walk in pantry, bulk storage at the laundry and third garage bay. This home sits on a unique oversized pie shaped lot and offers a stunning list of design features with over 100k in upgrades. Estimated February 2021 completion.

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

Zip Code: 78737

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k489k

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

Zip Code: 78737

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9972668

* 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
Rooster Springs Elementary School Primary Regular 819 50 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Rooster Springs Elementary School

  • Education Level: Primary
  • # of students: 819
  • # of teachers: 50
8
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$549,757$671,925$610,841

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,254
Property Tax -$1,050
Property Insurance -$184
HOA -$75
Property Management Fees -$99
CASH FLOW
-$711

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.

$610,841

PROJECTED PRICE

$2,950

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.80%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,873

INVESTMENT

$163,873

Down Payment
$152,710
Rehab Estimate
$2,000
Closing Costs
$9,163

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,710
Loan Amount $458,131
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,966

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9003$2,9004$2,9505$3,100
$3,100
RENT COMPS ANALYSIS
  • 186 Cistern Way Austin, TX 4
    • 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,785 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.06
    •  
  • 222 Crampton Cove Austin, TX 1
    • 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.01
    •  
  • 13441 Mesa Verde Drive Austin, TX 2
    • 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.03
    •  
  • 150 Drury Lane Austin, TX 3
    • 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.03
    •  
  • 212 Cistern Way Austin, TX 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2019
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.19
    •  
PROPERTY LISTING DETAILS
Matthew Ikard
1.512.666.9661
Ctx Listings, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9771166
Last Updated: 12/02/2020
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