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244 Hometown Parkway Kyle, TX 78640

4 Beds 3 Baths 2,991 sqft Built 2005

$299,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $99.97
  • 5 Days on Market
  • MLS # : 7131258
  • Updated Date : 01/30/2021 at 18:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,991 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Tx Realty

Listing Agent's Description

Huge home in a great location! Nice corner lot with a big backyard! Won't last long! Must see today!

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,039
Property Tax -$688
Property Insurance -$195
HOA -$33
Property Management Fees -$99
CASH FLOW
-$194

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.

$299,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.62%

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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,854

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8004$1,8605$2,000
$2,000
RENT COMPS ANALYSIS
  • 244 Hometown Parkway Kyle, TX 4
    • 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.62
    •  
  • 116 Rio Grande Dr Kyle, TX 1
    • 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,780 Sqft ∙ Built 2004
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.63
    •  
  • 115 Pedernales Drive Kyle, TX 2
    • 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2006
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.61
    •  
  • 173 Hometown Parkway Kyle, TX 3
    • 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2006
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.60
    •  
  • 185 Hometown Parkway Kyle, TX 5
    • 5 beds 4 baths ∙ 3,117 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,117 Sqft ∙ Built 2008
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.64
    •  
PROPERTY LISTING DETAILS
Cederick Harris
1.512.436.4979
Berkshire Hathaway Tx Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7131258
Last Updated: 01/30/2021
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