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2213 Wilma Rudolph Road Austin, TX 78748

2 Beds 2 Baths 1,124 sqft Built 2003

$275,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $244.66
  • 4 Days on Market
  • MLS # : 1138122
  • Updated Date : 01/15/2021 at 14:23
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,124 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Amazing 2BR/2BA home situated in Olympic Heights! Immediately fall in love with this home as you drive up along the tree lined street and pull up to the cute blue front door! Home features an open floorplan that carries you from the living room through the kitchen, perfect for entertaining and allowing for natural light to filter through and highlight the home. Step out back and enjoy the covered patio, perfect for cozying up with a book or playing with furry friends. Home is ideally situated in south Austin with easy access to 1626 & SH45.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Olympic Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $100k410k

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

Neighborhood: Olympic Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9882157

* 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
Baranoff Elementary School Primary Regular 994 59 9
Bailey Middle School Middle Regular 917 58 6
Akins High School High Regular 2,667 155 4

Baranoff Elementary School

  • Education Level: Primary
  • # of students: 994
  • # of teachers: 59
9
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 917
  • # of teachers: 58
6
GreatSchools Rating

Akins High School

  • Education Level: High
  • # of students: 2,667
  • # of teachers: 155
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$955
Property Tax -$541
Property Insurance -$90
HOA -$36
Property Management Fees -$99
CASH FLOW
-$291

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.

$275,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $1,456

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4303$1,6004$1,6505$1,720
$1,720
RENT COMPS ANALYSIS
  • 2213 Wilma Rudolph Road Austin, TX 2
    • 2 beds 2 baths ∙ 1,124 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,124 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.27
    •  
  • 2620 Alcott Lane #a Austin, TX 1
    • 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1985 2 beds 2 baths ∙ 1,000 Sqft ∙ Built 1985
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.30
    •  
  • 11137 Lost Maples Trail Austin, TX 3
    • 2 beds 3 baths ∙ 1,236 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,236 Sqft ∙ Built 2008
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.29
    •  
  • 1705 Friars Tale Lane Austin, TX 4
    • 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 1999 2 beds 2 baths ∙ 1,271 Sqft ∙ Built 1999
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.30
    •  
  • 1304 Catalan Road Austin, TX 5
    • 2 beds 2 baths ∙ 1,329 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,329 Sqft ∙ Built 2017
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.29
    •  
PROPERTY LISTING DETAILS
Jaymes Willoughby
1.512.347.9599
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1138122
Last Updated: 01/15/2021
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