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2604 Cherrylawn Drive Taylor, TX 76574

2 Beds 2 Baths 1,067 sqft Built 1987

$179,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $167.76
  • 3 Days on Market
  • MLS # : 3968406
  • Updated Date : 11/28/2020 at 00:01
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,067 sqft
  • Baths : 2 full
Listing Agent

Winkler & Co Realtors Menley G

Listing Agent's Description

This is a nice neat home that has been occupied by the same owner for almost 20 years. It has 2 bedrooms and 2 baths and a flex room with a closet that can be a third bedroom, office or formal dining. The bright living room features a wall of windows ar, fireplace and french doors leading to the patio that is partly covered. The window unit was for when they didn't want to run the whole house HVAC, but hasn't been used iin a long time and probably doesn't work. Good location convenient to everything!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Zip Code: 76574

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k298k

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

Zip Code: 76574

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6711723

* 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
T H Johnson Elementary School Primary Regular 466 30 5
Taylor Middle School Middle Regular 710 54 3
Taylor High School High Regular 967 83 3

T H Johnson Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 30
5
GreatSchools Rating

Taylor Middle School

  • Education Level: Middle
  • # of students: 710
  • # of teachers: 54
3
GreatSchools Rating

Taylor High School

  • Education Level: High
  • # of students: 967
  • # of teachers: 83
3
GreatSchools Rating
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$660
Property Tax -$448
Property Insurance -$87
Property Management Fees -$101
CASH FLOW
-$36

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$179,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k

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$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$5,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,200

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$9753$1,0004$1,260
$1,260
RENT COMPS ANALYSIS
  • 2604 Cherrylawn Drive Taylor, TX 4
    • 2 beds 2 baths ∙ 1,067 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,067 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.18
    •  
  • 811 Cecelia St Taylor, TX 1
    • 2 beds 1 baths ∙ 850 Sqft ∙ Built 1935 2 beds 1 baths ∙ 850 Sqft ∙ Built 1935
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.12
    •  
  • 1308 Marshall Taylor, TX 2
    • 2 beds 1 baths ∙ 840 Sqft ∙ Built 1960 2 beds 1 baths ∙ 840 Sqft ∙ Built 1960
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $1.16
    •  
  • 1112 W 3rd St Taylor, TX 3
    • 2 beds 1 baths ∙ 912 Sqft ∙ Built 1920 2 beds 1 baths ∙ 912 Sqft ∙ Built 1920
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sandy Menley
1.512.963.1113
Winkler & Co Realtors Menley G
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3968406
Last Updated: 11/28/2020
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