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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 76574
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,724
LOAN DETAILS
$738
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $49,975 |
| Loan Amount | $149,925 |
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
-
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
1.512.940.1989
Sierra Homes Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 7846276
Last Updated: 10/27/2020
