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202 Grant Court Leander, TX 78641

3 Beds 4 Baths 1,716 sqft Built 2001

$284,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $165.50
  • 6 Days on Market
  • MLS # : 3788011
  • Updated Date : 02/28/2021 at 23:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,716 sqft
  • Baths : 2 full , 2 half
Listing Agent

Hd Realty Team

Listing Agent's Description

Immaculate home with tenants that would like to stay if property is purchased as an investment property. First 11 pics are from when the investors originally purchased the property. Extra big lot property extends additional 30' beyond the fence line. No home directly behind. Across the street from the community park, pool, volleyball court and playground. Great area close to great schools, restaurants and shopping.

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $125k298k

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211744

* 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
Pleasant Hill Elementary School Primary Regular 844 59 4
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Pleasant Hill Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 59
4
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$255,600$312,400$284,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$986
Property Tax -$657
Property Insurance -$124
HOA -$26
Property Management Fees -$99
CASH FLOW
-$282

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.

$284,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,010

INVESTMENT

$81,010

Down Payment
$71,000
Rehab Estimate
$5,750
Closing Costs
$4,260

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$986

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,000
Loan Amount $213,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$329

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,677

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6103$1,6954$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 202 Grant Court Leander, TX 2
    • 3 beds 4 baths ∙ 1,716 Sqft ∙ Built 2001 3 beds 4 baths ∙ 1,716 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.94
    •  
  • 111 Grant Court Leander, TX 1
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 2001
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 305 Presidio Drive Leander, TX 3
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
  • 302 Fairfield Loop Leander, TX 4
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2002
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 310 Ashbury Drive Leander, TX 5
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2002
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Holly Dees
Hd Realty Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3788011
Last Updated: 02/28/2021
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