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245 Tulum Terrace Leander, TX 78641

5 Beds 3 Baths 2,743 sqft Built 2019

$330,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $120.31
  • 3 Days on Market
  • MLS # : 2902110
  • Updated Date : 11/14/2020 at 20:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,743 sqft
  • Baths : 3 full
Listing Agent

Austin House Company

Listing Agent's Description

Recent Construction in Maya Vista! Large 5 bedroom, 3 full bath floor-plan. Private master bedroom with a large walk-in shower, double vanity, enclosed water room huge walk-in closet. A bedroom located in a separate wing on the first floor with a full bath is perfect for guests. The kitchen includes a large island, generous counter space and walk in pantry. The great room is ideal for gatherings and entertainment. Upstairs you will find three large bedrooms, two with walk in closets and a bonus room perfect for media/play. Home is located right across the community park and is less than 2 miles away from the South Fork San Gabriel River!

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Plain Elementary School Primary Regular 850 55 5
Wiley Middle School Middle Regular 967 63 8
Glenn High School High Unknown NA

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Wiley Middle School

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

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,218
Property Tax -$763
Property Insurance -$181
HOA -$40
Property Management Fees -$166
CASH FLOW
-$298

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.

$330,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,450

INVESTMENT

$89,450

Down Payment
$82,500
Rehab Estimate
$2,000
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,256

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0703$2,2004$2,300
$2,300
RENT COMPS ANALYSIS
  • 245 Tulum Terrace Leander, TX 2
    • 5 beds 3 baths ∙ 2,743 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,743 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.75
    •  
  • 1408 Itzel Bnd Leander, TX 1
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2019
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
  • 1348 Eagle Ray Street Leander, TX 3
    • 5 beds 3 baths ∙ 2,673 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,673 Sqft ∙ Built 2018
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 528 Middle Brook Drive Leander, TX 4
    • 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2018
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jesus Gomez
1.512.900.8559
Austin House Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2902110
Last Updated: 11/14/2020
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