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240 E Walnut Street La Grange, TX 78945

2 Beds 2 Baths 1,179 sqft Built 1994

$149,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $126.38
  • 7 Days on Market
  • MLS # : 7339578
  • Updated Date : 02/12/2021 at 20:57
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,179 sqft
  • Baths : 2 full
Listing Agent

Diggs Real Estate Inc.

Listing Agent's Description

Great for starter, retirement or rental! Make this home your own by replacing some of the flooring & updating the kitchen & baths. Hardwoods in bedrooms in good shape, but floors in living & kitchen need repairs & updates. 2 bonus rooms can be a 3rd bedroom,sunroom,den, exercise room or office.Washer, Dryer & 2 window units included w/sale. 1 car carport,back covered patio, 2 storage sheds & 2 fenced areas in back yard. Mature trees w/lot's of shade & room for a garden!Priced for your repairs and updates!

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: 78945

ZipNIR Market*CityMarket2010Year2002 Q2201980k100k120k140k160k180k200k220k240k260k280kPrice in $68k293k

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

Zip Code: 78945

No Data Available.

* 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
La Grange Middle School Middle Regular 305 25 6
La Grange High School High Regular 603 47 6

La Grange Middle School

  • Education Level: Middle
  • # of students: 305
  • # of teachers: 25
6
GreatSchools Rating

La Grange High School

  • Education Level: High
  • # of students: 603
  • # of teachers: 47
6
GreatSchools Rating
 

$134,100$163,900$149,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$518
Property Tax -$249
Property Insurance -$93
Property Management Fees -$99
CASH FLOW
$321

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$149,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,235

INVESTMENT

$45,235

Down Payment
$37,250
Rehab Estimate
$5,750
Closing Costs
$2,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $37,250
Loan Amount $111,750
See What Happens When You Reinvest Cash Flow

13.33

YEARS SAVED

$31,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,238

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,280
$1,280
RENT COMPS ANALYSIS
  • 240 E Walnut Street La Grange, TX 2
    • 2 beds 2 baths ∙ 1,179 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,179 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.09
    •  
  • 2201 Hrbacek Street La Grange, TX 1
    • 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1993 2 beds 1 baths ∙ 1,000 Sqft ∙ Built 1993
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jerri Taylor
Diggs Real Estate Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7339578
Last Updated: 02/12/2021
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