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2105 Davis Street Taylor, TX 76574

3 Beds 2 Baths 1,927 sqft Built 1980

$199,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1980
  • Price/Sqft : $103.74
  • 11 Days on Market
  • MLS # : 7846276
  • Updated Date : 10/27/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,927 sqft
  • Baths : 2 full
Listing Agent

Sierra Homes Realty

Listing Agent's Description

Priced for TLC recommendations. 30-Year owner finance available. This charming home which sits on a huge lot has been a rental property for the last 8 years. This home is about a 30 minute drive from the new Tesla plant, so the options are endless - live in the home, rent it, add a second level and flip or do something with the huge backyard. This home needs $16.5K-$20K in paint/carpet type work, and the seller's GC has quoted this amount (contact information attached). Seller now lives in CA and is unable to supervise, hence selling. Seller also willing to provide owner financing to the right buyer, see attachments for details. Intentionally priced to attract attention, this home won't last long! All offers will be reviewed on November 1, 2020.

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: 76574

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k298k

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

Zip Code: 76574

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6711723

* 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
T H Johnson Elementary School Primary Regular 466 30 5
Taylor Middle School Middle Regular 710 54 3
Taylor High School High Regular 967 83 3

T H Johnson Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 30
5
GreatSchools Rating

Taylor Middle School

  • Education Level: Middle
  • # of students: 710
  • # of teachers: 54
3
GreatSchools Rating

Taylor High School

  • Education Level: High
  • # of students: 967
  • # of teachers: 83
3
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$738
Property Tax -$506
Property Insurance -$136
Property Management Fees -$131
CASH FLOW
$130

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$199,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$21,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,5504$1,6405$1,850
$1,850
RENT COMPS ANALYSIS
  • 2105 Davis Street Taylor, TX 4
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.85
    •  
  • 2005 Canvas Back Drive Taylor, TX 1
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2009
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 616 W 7th St Taylor, TX 2
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1930
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.87
    •  
  • 600 Big Bend Trail Taylor, TX 3
    • 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 2004
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 520 W 10th Street Taylor, TX 5
    • 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1920 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1920
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kathleen Addison
1.512.940.1989
Sierra Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7846276
Last Updated: 10/27/2020
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