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PROPERTY INFO
FACTS
- 3-Flat Type Property
- Built In 1983
- Price/Sqft : $186.16
- 5 Days on Market
- MLS # : No MLS Number
CONSTRUCTION
- Beds : 5
- Floor Size : 3,223 sqft
- Baths : 5 full
Listing Agent
Tobin
Listing Agent's Description
The owner wants to sell the property as a package deal with his other lot adjoined to the property, MLS #3590693 @ 207 S Meadowlark St priced at $150K. 2010 updates – New Hardiplank installed on the Triplex. New double pane windows replaced old windows. Bathrooms were updated too. Kohler fixtures, bathtubs, valves, new toilet flanges, and toilets installed. New $2000 wood front doors installed in 2010 for Unit A & C. The Septic system gets pumped yearly, and it has two tanks. 2016 – New Water Heater Unit B. 2017 – New Roof & new $2000 wood front door on unit B. 2019 – All AC units were replaced with 16 seer Amana units. 2020 – New Gutters installed around the property with mesh screens preventing debris from getting into them. The property has a French drain where a lot of the water drains too. Unit A, B, and C have their separate electric meter. Unit B & C share the water meter. Unit A has its own water meter. The property gets $3750 per month in rental income. All leases are currently month to month. Owner currently pays all of the water bill for the property. Unit C electric bill is paid by owner since it is included in the rent.
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
Neighborhood: Lakeway
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lakeway
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,900 |
| EXPENSES | Loan Payment | -$2,084 |
| Property Tax | -$986 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$297 | |
|
CASH FLOW
$445
|
||
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.
$600,000
PROJECTED PRICE
$3,900
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.79% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.80% |
| 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
$176,250
LOAN DETAILS
$2,084
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $150,000 |
| Loan Amount | $450,000 |
9
YEARS SAVED
$72,173
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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
Tobin
