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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $138.85
- 5 Days on Market
- MLS # : 7969957
- Updated Date : 11/20/2020 at 14:25
CONSTRUCTION
- Beds : 3
- Floor Size : 1,858 sqft
- Baths : 2 full , 1 half
Listing Agent
D.r. Horton, America's Builder
Listing Agent's Description
UNDER CONSTRUCTION - EST. COMPLETION IN FEB 2021. New Construction. The Florence is a two-story floorplan offering 1,858 square feet, 3-bedrooms, and 2.5-bathrooms. Walk into the long foyer straight into the spacious overlooking the dining area and the family room. The kitchen features granite countertops, tile backsplash, stainless steel appliances, recessed lighting and a kitchen island. The main bedroom, bedroom 1, is located off the dining room and features a large walk in shower and huge walk in closet. Upstairs you will find the secondary bedrooms, and a large game room. The Florence also features a covered patio, and full sod and irrigation. This home includes our HOME IS CONNECTED base package which includes the Alexa Voice control, Front Door Bell, Front Door Deadbolt Lock, Home Hub, Light Switch, and Thermostat.
SEE MORE
- 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: Pecan Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pecan Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,680 |
| EXPENSES | Loan Payment | -$952 |
| Property Tax | -$539 | |
| Property Insurance | -$132 | |
| HOA | -$35 | |
| Property Management Fees | -$134 | |
|
CASH FLOW
-$111
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.
$257,990
PROJECTED PRICE
$1,680
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.79% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 3.00% |
| 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
$70,367
LOAN DETAILS
$952
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $64,498 |
| Loan Amount | $193,493 |
2.17
YEARS SAVED
$4,635
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,680
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$1,686
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
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- 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2018
LEASED 10/27/20- Rent
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- $1,800
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- 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2008
LEASED 06/25/20- Rent
- Rent Per SQFT
- $1,900
- $0.92
PROPERTY LISTING DETAILS
1.512.270.6196
D.r. Horton, America's Builder
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 7969957
Last Updated: 11/20/2020
