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2045 Waterfall Avenue Leander, TX 78641

4 Beds 3 Baths 2,215 sqft Built 2019

$350,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $158.01
  • 3 Days on Market
  • MLS # : 7247701
  • Updated Date : 11/07/2020 at 12:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,215 sqft
  • Baths : 3 full
Listing Agent

Olvera Bolton Properties

Listing Agent's Description

TXT AGENT 2 HOUR NOTICE Priced very aggressive for a quick sale! Built on LARGE PREMIUM LOT, Water Softner Conveys and waiter filtration system conveys, Electric operated blinds/curtain on back patio conveys, Owner owns a TESLA and the wire and charging station are ready to use, Cameras and security systems doesn't convey, TV Mounts convey, Upgraded flooring and kitchen from designing center, 4 beds plus a studio and 3 full baths. 2215sf and almost a quarter of an acre lot! Single Story and less than a year old!

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Bagdad Elementary School Primary Regular 553 53 3
Leander Middle School Middle Regular 862 63 6
Rouse High School High Regular 2,336 140 7

Bagdad Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 53
3
GreatSchools Rating

Leander Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 63
6
GreatSchools Rating

Rouse High School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,291
Property Tax -$809
Property Insurance -$152
HOA -$35
Property Management Fees -$174
CASH FLOW
-$290

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.

$350,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,750

INVESTMENT

$94,750

Down Payment
$87,500
Rehab Estimate
$2,000
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,160

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$2,0003$2,1704$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 2045 Waterfall Avenue Leander, TX 3
    • 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.98
    •  
  • 712 Sunny Brook Drive Leander, TX 1
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2019
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.95
    •  
  • 2020 Bear Creek Drive Leander, TX 2
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2019
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 713 Millcreek Lane Leander, TX 4
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2019
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 708 Sunny Ridge Drive Leander, TX 5
    • 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,202 Sqft ∙ Built 2020
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
PROPERTY LISTING DETAILS
Julio Olvera
1.512.909.9968
Olvera Bolton Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7247701
Last Updated: 11/07/2020
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