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228 Saddleback Road Austin, TX 78737

4 Beds 3 Baths 2,843 sqft Built 2006

$435,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $153.01
  • 3 Days on Market
  • MLS # : 5146388
  • Updated Date : 01/02/2021 at 17:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,843 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Please follow COVID-19 protocol. . Beautiful all stone one story home in the highly desired and gated community of Highpointe! Great floor plan featuring soaring ceilings with four bedrooms, two and a half bathrooms. Large kitchen with center island, and breakfast area open to the family room. Fireplace and formal dining. Silestone counters, custom paint, hard tile through out living spaces, upgraded lighting and more. Large tandem garage. Oversized lot with beautifully landscaped back yard extended patio and hill country views! Walking distance to the neighborhood pools, gym, clubhouse, sports court and more. Residents attends the award winning Sycamore Springs Elementary and Middle School. Start 2021 off on the right foot and come see this one!

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

Zip Code: 78737

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k489k

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

Zip Code: 78737

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9972668

* 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
Dripping Springs Elementary School Primary Regular 921 57 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Dripping Springs Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
8
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$1,605
Property Tax -$1,019
Property Insurance -$187
HOA -$75
Property Management Fees -$99
CASH FLOW
-$145

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.

$435,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$10,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $3,021

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,840
1$2,8402$2,8503$2,9504$2,9505$3,100
$3,100
RENT COMPS ANALYSIS
  • 228 Saddleback Road Austin, TX 1
    • 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,843 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $1.00
    •  
  • 278 Mountain Laurel Way Austin, TX 2
    • 4 beds 3 baths ∙ 2,739 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,739 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.04
    •  
  • 203 Mountain Laurel Way Austin, TX 3
    • 3 beds 3 baths ∙ 2,777 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,777 Sqft ∙ Built 2007
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.06
    •  
  • 151 Courtland Cir Austin, TX 4
    • 4 beds 2 baths ∙ 2,656 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,656 Sqft ∙ Built 2010
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.11
    •  
  • 12908 Mesa Verde Drive Austin, TX 5
    • 4 beds 4 baths ∙ 2,982 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,982 Sqft ∙ Built 2018
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jeremy Frost
1.512.636.2746
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5146388
Last Updated: 01/02/2021
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