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241 Cherry Laurel Ln Kyle, TX 78640

4 Beds 3 Baths 2,320 sqft Built 2020

INVESTimate

$280,190

List Price

$1,910

$1,719 - $2,101

Rent Est.

$297,702  ( +6.25%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $120.77
  • 5 Days on Market
  • MLS # : 1530762
  • Updated Date : 08/22/2020 at 14:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,320 sqft
  • Baths : 3 full
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

Under construction-est. completion in Dec 2020. 4 bed/3 Full Bath PLUS game room, 2320 sqft Roosevelt Plan-Beautifully space-minded home with extras. 3 beds downstairs with 1 bedroom & gameroom upstairs, 3 full baths. The kitchen includes granite countertops, beautiful stainless steel appliances, large undermount single bowl sink, large corner pantry and plenty of cabinet space. Great-sized, separate utility room with large window. Covered front porch & back patio. Recessed lighting & tech package

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
Camino Real Elementary School Primary Regular 769 52 3
Simon Middle School Middle Regular 615 44 3
Hays High School High Regular 2,409 121 6

Camino Real Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 52
3
GreatSchools Rating

Simon Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 44
3
GreatSchools Rating

Hays High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 121
6
GreatSchools Rating
 

$252,171$308,209$280,190

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,034
Property Tax -$645
Property Insurance -$158
HOA -$40
Property Management Fees -$153
CASH FLOW
-$119

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$280,190

PROJECTED PRICE

$1,910

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.25%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,250

INVESTMENT

$76,250

Down Payment
$70,048
Rehab Estimate
$2,000
Closing Costs
$4,203

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,034

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,048
Loan Amount $210,143
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,669

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,908

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,9104$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 241 Cherry Laurel Ln Kyle, 3
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.82
    •  
  • 157 Pebble Creek Ln Buda, 1
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2008
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 283 Dragon Ridge Rd Buda, 2
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2011
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
  • 363 Triumph Rd Buda, 4
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 2015
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 566 Quarter Ave Buda, 5
    • 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2009
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Dave Clinton
1.512.270.6196
D.r. Horton, America's Builder
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1530762
Last Updated: 08/22/2020
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