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2609 Century Park Boulevard Austin, TX 78727

3 Beds 2 Baths 1,614 sqft Built 2003

$340,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $210.66
  • 4 Days on Market
  • MLS # : 8012816
  • Updated Date : 01/14/2021 at 17:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

All City Real Estate Ltd. Co

Listing Agent's Description

Pls submit all offers by Sat 1/16 @ 6PM. Do not disturb tenants, lease expire 5/31/21. Will show on Sun 1/17/21 afternoon with offer. Foundation needed repair, see attached engr report. Price below market for "AS IS". This home has easy access to Mopac, 183, and IH35. Minutes to the Domain, Arboretum, Major employers. Home features wood floors in living; grown moldings, window shutters, and granite kitchen countertop.

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

Neighborhood: Woods of Century Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $126k378k

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

Neighborhood: Woods of Century Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371966

* 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
Wells Branch Elementary School Primary Regular 938 66 5
Deerpark Middle School Middle Regular 935 75 7
Mcneil High School High Regular 2,546 169 7

Wells Branch Elementary School

  • Education Level: Primary
  • # of students: 938
  • # of teachers: 66
5
GreatSchools Rating

Deerpark Middle School

  • Education Level: Middle
  • # of students: 935
  • # of teachers: 75
7
GreatSchools Rating

Mcneil High School

  • Education Level: High
  • # of students: 2,546
  • # of teachers: 169
7
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,181
Property Tax -$669
Property Insurance -$118
HOA -$13
Property Management Fees -$99
CASH FLOW
-$259

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.

$340,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8203$1,8954$1,950
$1,950
RENT COMPS ANALYSIS
  • 2609 Century Park Boulevard Austin, TX 2
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.13
    •  
  • 14431 Robert I Walker Blvd Austin, TX 1
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1985
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 13504 Stephanie St John St Austin, TX 3
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2003
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.17
    •  
  • 2206 Cedar Branch Drive Austin, TX 4
    • 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1991
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.10
    •  
PROPERTY LISTING DETAILS
Dat Le
1.512.789.6931
All City Real Estate Ltd. Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8012816
Last Updated: 01/14/2021
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