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188 Teasley Kyle, TX 78640

2 Beds 2 Baths 1,044 sqft Built 2002

$194,999

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $186.78
  • 115 Days on Market
  • MLS # : 2791708
  • Updated Date : 12/24/2020 at 02:45
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,044 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Charming 2 bed, 2 bath bungalow with large welcoming front porch in the heart of Plum Creek! Home features new paint throughout, open concept and private backyard with tons of green space for entertaining or outdoor activities. Location is close to schools, neighborhood amenities which include pool, parks, lake and golf course.

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: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Negley Elementary School Primary Regular 751 46 6
Barton Middle School Middle Regular 1,016 53 8
Hays High School High Regular 2,409 121 6

Negley Elementary School

  • Education Level: Primary
  • # of students: 751
  • # of teachers: 46
6
GreatSchools Rating

Barton Middle School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 53
8
GreatSchools Rating

Hays High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 121
6
GreatSchools Rating
 

$175,499$214,499$194,999

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$719
Property Tax -$449
Property Insurance -$86
HOA -$50
Property Management Fees -$99
CASH FLOW
-$4

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.

$194,999

PROJECTED PRICE

$1,400

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,249
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$9,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $1,201

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,400
$1,400
RENT COMPS ANALYSIS
  • 188 Teasley Kyle, TX 3
    • 2 beds 2 baths ∙ 1,044 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,044 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.34
    •  
  • 331b Utterback Kyle, TX 1
    • 2 beds 2 baths ∙ 1,160 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,160 Sqft ∙ Built 2004
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.16
    •  
  • 5702 Fergus #a Kyle, TX 2
    • 2 beds 3 baths ∙ 1,230 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,230 Sqft ∙ Built 2002
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.14
    •  
PROPERTY LISTING DETAILS
Carmen Petersen
1.512.496.0665
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2791708
Last Updated: 12/24/2020
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