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279 Shelley Lane San Marcos, TX 78666

4 Beds 2 Baths 1,720 sqft Built 2007

$190,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $110.47
  • 3 Days on Market
  • MLS # : 2221997
  • Updated Date : 12/18/2020 at 20:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

Avo Realty, Llc

Listing Agent's Description

Welcome to this cute and cozy home located in the Crestview neighborhood. Living room has warm bamboo flooring, a large open kitchen/dining area with lots of storage space. Greet your neighbors with this nice open patio with lots of potential for gardening! Backyard has a cabana and an outbuilding/storage shed. Easy access to stores, restaurants, and entertainment. Don’t miss out on this captivating home. Schedule a showing today!

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: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$701
Property Tax -$280
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$296

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.

$190,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
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$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

12.42

YEARS SAVED

$43,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5654$1,600
$1,600
RENT COMPS ANALYSIS
  • 279 Shelley Lane San Marcos, TX 2
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 208 Teron Drive San Marcos, TX 1
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2012
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 210 Teron Drive San Marcos, TX 3
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2012
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $1.05
    •  
  • 216 Teron Drive San Marcos, TX 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2012
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ronald Spencer
1.512.402.3660
Avo Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2221997
Last Updated: 12/18/2020
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