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255 Tower Drive Kyle, TX 78640

3 Beds 2 Baths 1,252 sqft Built 2010

$225,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $179.71
  • 3 Days on Market
  • MLS # : 3538772
  • Updated Date : 01/09/2021 at 21:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,252 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Adorable well maintained home with wood laminate floors through out and vinyl floors in bathrooms. Kitchen features white cabinets with tile backsplash, stainless steel appliances & recently installed sink/nickel faucet. Master is separate from secondary rooms located at the back of the home. Master offers a walk in closet with full bath that has long vanity area~ combo shower/tub. Entertain & relax on the extended covered deck & recently installed fence. Water softener & SKYBELL DOORBELL. Move in Ready!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$782
Property Tax -$518
Property Insurance -$98
HOA -$32
Property Management Fees -$99
CASH FLOW
-$168

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.

$225,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,399

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4253$1,5004$1,525
$1,525
RENT COMPS ANALYSIS
  • 255 Tower Drive Kyle, TX 1
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.09
    •  
  • 137 Creekside Villa Drive Kyle, TX 2
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 2014
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.13
    •  
  • 1609 Treeta Trail Kyle, TX 3
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2015
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 340 Tower Drive Kyle, TX 4
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2010
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.12
    •  
PROPERTY LISTING DETAILS
Monica Martinez
1.512.507.6466
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3538772
Last Updated: 01/09/2021
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