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2204 Gila Pass Austin, TX 78734

3 Beds 2 Baths 1,646 sqft Built 1999

$375,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $227.83
  • 3 Days on Market
  • MLS # : 8831724
  • Updated Date : 11/07/2020 at 16:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,646 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Network

Listing Agent's Description

Charming home on a double lot, located atop a small cul-de-sac. Less than a mile away from beautiful Lake Austin, with private access to a lakeside park and boat ramp, you'll enjoy living the lake lifestyle. The serene setting of this home has abundant, mature trees, wrap around covered front porch, large covered back deck with partially screened area. Quality, custom built home with four sides brick, crown moulding throughout and wood window casings. Low tax rate, low HOA fees. Located in the exemplary Lake Travis ISD.

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

Neighborhood: Apache Shores

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k378k

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

Neighborhood: Apache Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371966

* 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
Lake Travis Elementary School Primary Regular 888 58 8
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Lake Travis Elementary School

  • Education Level: Primary
  • # of students: 888
  • # of teachers: 58
8
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,384
Property Tax -$737
Property Insurance -$120
HOA -$3
Property Management Fees -$160
CASH FLOW
-$404

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.

$375,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.1%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,012

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,0004$2,150
$2,150
RENT COMPS ANALYSIS
  • 2204 Gila Pass Austin, TX 3
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 2001 Rain Water Dr Austin, TX 1
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2003
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.28
    •  
  • 2670 Crazyhorse Pass Austin, TX 2
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2007
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.14
    •  
  • 2006 Rain Water Austin, TX 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2008
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.19
    •  
PROPERTY LISTING DETAILS
Anna Culina
1.512.266.9022
Century 21 Realty Network
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8831724
Last Updated: 11/07/2020
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