Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2413 Socorro Bend Leander, TX 78641

3 Beds 3 Baths 1,434 sqft Built 2003

$239,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $167.29
  • 2 Days on Market
  • MLS # : 1049494
  • Updated Date : 12/27/2020 at 05:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Capital City

Listing Agent's Description

Amazing home in the highly desirable Block House Creek neighborhood. Home features primary bedroom on main level with separate shower, soaking tub & walk-in closet. Upgrades include dark wood laminate & tile flooring throughout main level, all bathrooms updated with recently replaced vanities, faucets & tile flooring, recessed lights in kitchen, stainless steel appliances and recent paint throughout. Home has tons of natural lighting, spacious yard with large covered patio, shed & mature trees. Minutes from Leander ISD schools, community pools, parks, sports courts & trails. Conveniently located near 183A/183, HEB Center, shopping, restaurants & so much more!

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $125k298k

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211744

* 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
Block House Creek Elementary School Primary Regular 655 44 8
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Block House Creek Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 44
8
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$885
Property Tax -$582
Property Insurance -$108
HOA -$10
Property Management Fees -$99
CASH FLOW
-$134

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.

$239,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,252

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,542

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5954$1,6005$1,645
$1,645
RENT COMPS ANALYSIS
  • 2413 Socorro Bend Leander, TX 2
    • 3 beds 3 baths ∙ 1,434 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,434 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 2510 Winslow Dr Leander, TX 1
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 2002
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.05
    •  
  • 2813 Greenlee Dr Leander, TX 3
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 1500 Molson Lake Drive Leander, TX 4
    • 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 2601 Turtle River Drive Leander, TX 5
    • 3 beds 3 baths ∙ 1,511 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,511 Sqft ∙ Built 2001
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.09
    •  
PROPERTY LISTING DETAILS
Jason Lichman
1.512.595.4809
Re/max Capital City
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1049494
Last Updated: 12/27/2020
BESbswy