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254 Joy Hollow Drive Buda, TX 78610

3 Beds 2 Baths 1,870 sqft Built 2016

$315,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $168.45
  • 4 Days on Market
  • MLS # : 5167914
  • Updated Date : 11/07/2020 at 14:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,870 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Prosper

Listing Agent's Description

Highly desired neighborhood. One of the biggest lots in Whispering Hollow. Delicately lived in house. Schedule showing - 60 min lead time please. Showings start Friday, 11/6. Curtains DO NOT convey.

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: 78610

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $126k298k

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

Zip Code: 78610

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9371840

* 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
Elm Grove Elementary School Primary Regular 757 40 7
Dahlstrom Middle School Middle Regular 946 45 7
Hays High School High Regular 2,409 121 6

Elm Grove Elementary School

  • Education Level: Primary
  • # of students: 757
  • # of teachers: 40
7
GreatSchools Rating

Dahlstrom Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 45
7
GreatSchools Rating

Hays High School

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

$283,500$346,500$315,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,162
Property Tax -$682
Property Insurance -$132
HOA -$35
Property Management Fees -$161
CASH FLOW
-$162

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.

$315,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,015

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9953$2,0004$2,0005$2,010
$2,010
RENT COMPS ANALYSIS
  • 254 Joy Hollow Drive Buda, TX 5
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $1.07
    •  
  • 240 Mystic Shadow Ln Buda, TX 1
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2010
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.11
    •  
  • 327 Saffron Springs Buda, TX 2
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2012
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.07
    •  
  • 188 Rosling Drive Buda, TX 3
    • 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 2018
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
  • 1437 Heep Run Buda, TX 4
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2012
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Christopher Duval
1.512.589.2979
Realty One Group Prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5167914
Last Updated: 11/07/2020
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