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233 Spring Branch Drive Kyle, TX 78640

3 Beds 2 Baths 1,854 sqft Built 2001

$226,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $121.90
  • 2 Days on Market
  • MLS # : 6048650
  • Updated Date : 11/14/2020 at 08:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Gayer Group, Realtors(r)

Listing Agent's Description

Great opportunity to own a home near Downtown Kyle! Conveniently located near Kyle Crossing Shopping Center and near I-35. Roof replaced in March, new paint inside and out, new ceiling fans in bedrooms, new tile in bathrooms, and new flooring. Nice backyard. Move In Ready! This home will not last!

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: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Kyle Elementary School Primary Regular 652 41 3
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Kyle Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 41
3
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$203,400$248,600$226,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$834
Property Tax -$520
Property Insurance -$131
Property Management Fees -$132
CASH FLOW
$32

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.

$226,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,640

INVESTMENT

$65,640

Down Payment
$56,500
Rehab Estimate
$5,750
Closing Costs
$3,390

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,500
Loan Amount $169,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6904$1,8005$1,825
$1,825
RENT COMPS ANALYSIS
  • 233 Spring Branch Drive Kyle, TX 2
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 135 Strawn Kyle, TX 1
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 2003
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 152 Dressen Kyle, TX 3
    • 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2002
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.91
    •  
  • 490 Hogan Kyle, TX 4
    • 4 beds 3 baths ∙ 2,044 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,044 Sqft ∙ Built 2003
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 5249 Hartson Kyle, TX 5
    • 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 2002
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ana Solis
1.512.423.1332
Gayer Group, Realtors(r)
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6048650
Last Updated: 11/14/2020
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