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2204 Cottontail Drive Leander, TX 78641

4 Beds 3 Baths 2,286 sqft Built 2002

$260,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $113.74
  • 4 Days on Market
  • MLS # : 1923038
  • Updated Date : 11/14/2020 at 19:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,286 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tre Homes

Listing Agent's Description

This move-in ready home in Westwood is a beautifully planned 4 bedroom, 2.5 bath home featuring a spacious living area, functional kitchen with pass through and breakfast bar. There is a flex room on the main floor that can either be used as a den, office, or formal dining area. The large primary bedroom offers an ensuite bath complete with dual vanity walk in closets. The home is close to restaurants, shopping, HEB, as well as lake fun in Jonestown and Lake Travis.

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Bagdad Elementary School Primary Regular 553 53 3
Leander Middle School Middle Regular 862 63 6
Glenn High School High Unknown NA

Bagdad Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 53
3
GreatSchools Rating

Leander Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 63
6
GreatSchools Rating

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$959
Property Tax -$601
Property Insurance -$156
HOA -$34
Property Management Fees -$139
CASH FLOW
-$150

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.

$260,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,885

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,829

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6953$1,7404$1,7505$2,200
$2,200
RENT COMPS ANALYSIS
  • 2204 Cottontail Drive Leander, TX 3
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.76
    •  
  • 205 Cottontail Dr Leander, TX 1
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 2002
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.70
    •  
  • 2010 Sydnee Dr Leander, TX 2
    • 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2010
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 213 Cottontail Drive Leander, TX 4
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2004
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 2101 Camay Street Leander, TX 5
    • 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2020
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Erin Morrison
1.512.720.2939
Tre Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1923038
Last Updated: 11/14/2020
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