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2617 Canyon Creek Drive Temple, TX 76502

4 Beds 3 Baths 2,012 sqft Built 1985

$250,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $124.25
  • 3 Days on Market
  • MLS # : 3975104
  • Updated Date : 11/07/2020 at 00:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,012 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to 2617 Canyon Creek Drive in the Cliff of Canyon Creek. This home has solid bones starting with the brick exterior. Enter to wide hardwood flooring and large spacious living and dining rooms! The kitchen features oak cabinetry and a kitchen dining nook. The spacious owner's suite features a large custom walk-in shower and soaking tub.

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: 76502

ZipNIR Market*CityMarket20102015Year2006 Q22019110k120k130k140k150k160k170k180k190kPrice in $104k195k

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

Zip Code: 76502

ZipNIR Market*CityMarket2015Year2009 Q32019 Q210501100115012001250130013501400Rent in $10321403

* 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
Thornton Elementary School Primary Regular 534 33 4
Bonham Middle School Middle Regular 490 42 4
Bonham Middle School High Regular 490 42 4

Thornton Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 33
4
GreatSchools Rating

Bonham Middle School

  • Education Level: Middle
  • # of students: 490
  • # of teachers: 42
4
GreatSchools Rating

Bonham Middle School

  • Education Level: High
  • # of students: 490
  • # of teachers: 42
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$922
Property Tax -$559
Property Insurance -$133
Property Management Fees -$130
CASH FLOW
-$114

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.62%
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-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5803$1,630
$1,630
RENT COMPS ANALYSIS
  • 2617 Canyon Creek Drive Temple, TX 3
    • 3 beds 3 baths ∙ 2,012 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,012 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.81
    •  
  • 5829 Worthing Drive Temple, TX 1
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 2015
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 618 Wyndham Hill Parkway Temple, TX 2
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2015
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.91
    •  
PROPERTY LISTING DETAILS
Wendy Papasan
1.512.330.1004
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3975104
Last Updated: 11/07/2020
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