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2107 Thornton A Street Austin, TX 78704

6 Beds 8 Baths 4,000 sqft Built 2020 2 Units

$775,000

List Price

$4,000

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
2 Units MULTIFAMILY
February 02, 2021 RECENTLY ADDED
FACTS
  • Multi Family Home
  • Built In 2020
  • Price/Sqft : $193.75
  • 6 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,000 sqft
  • Baths : 6 full , 2 half
Listing Agent

Tobin

Listing Agent's Description

RARE FIND- APPROVED TOWNHOME/DUPLEX LOT!!!- PRICE IS PER SIDE!! - LOT IS FOR SALE ALSO !!! BUY LOT AND BUILD YOUR OWN PLAN! THIS IS ALMOST READY TO START! GREAT LOCATION. AUSTIN'S HOT SPOT!!! LOT IS 0.46 ACRES BACKS UP TO CREEK AND GREENBELT!!! RELAXING AND PRIVATE! APPROVED FOR 2 - 2000SQFT +/- EACH SIDE TOWNHOME/ DUPLEX. GEO WORK FOUNDATION AND FRAMING ENGINEEERING COMPLETED. BUILDING PERMITS SOON. PRICE MAY CHANGE . BUY THE LOT NOW AND BUILD WHAT YOU WANT! THIS PRICE IS PER SIDE. A & B UNITS. PRICE MAY CHANGE ONCE STARTED!!

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Galindo

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $126k558k

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

Neighborhood: Galindo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9242037

* 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
Dawson Elementary School Primary Regular 335 31 5
Fulmore Middle School Middle Regular 952 66 5
Travis Early College High School High Regular 1,329 103 4

Dawson Elementary School

  • Education Level: Primary
  • # of students: 335
  • # of teachers: 31
5
GreatSchools Rating

Fulmore Middle School

  • Education Level: Middle
  • # of students: 952
  • # of teachers: 66
5
GreatSchools Rating

Travis Early College High School

  • Education Level: High
  • # of students: 1,329
  • # of teachers: 103
4
GreatSchools Rating
 

$697,500$852,500$775,000

PURCHASE PRICE

$3,600$4,400$4,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,000
EXPENSES Loan Payment -$2,692
Property Tax -$1,385
Property Insurance -$103
Property Management Fees -$198
CASH FLOW
-$378

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.

$775,000

PROJECTED PRICE

$4,000

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.7%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$207,375

INVESTMENT

$207,375

Down Payment
$193,750
Rehab Estimate
$2,000
Closing Costs
$11,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,692

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $193,750
Loan Amount $581,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$13,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy