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2826 Silo Turn Street New Braunfels, TX 78130

3 Beds 2 Baths 1,736 sqft Built 2020

$266,710

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $153.63
  • 78 Days on Market
  • MLS # : 2711203
  • Updated Date : 12/19/2020 at 19:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Brothers Group Inc

Listing Agent's Description

Come see this charming new home in New Braunfels. Home includes Granite in kitchen, Tile everywhere but the bedrooms, Bay window and tray ceiling in Master bedroom, Large 8ft walk-in shower in master bath, Formal dining room, Covered patio, Oversize garage and much more don't miss out schedule a appointment today. Ready in January.

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: 78130

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

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

Zip Code: 78130

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* 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
Klein Road Elementary School Primary Regular 728 43 6
New Braunfels Middle School Middle Regular 971 59 6
New Braunfels High School High Regular 1,711 94 6

Klein Road Elementary School

  • Education Level: Primary
  • # of students: 728
  • # of teachers: 43
6
GreatSchools Rating

New Braunfels Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 59
6
GreatSchools Rating

New Braunfels High School

  • Education Level: High
  • # of students: 1,711
  • # of teachers: 94
6
GreatSchools Rating
 

$240,039$293,381$266,710

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$984
Property Tax -$481
Property Insurance -$127
HOA -$33
Property Management Fees -$99
CASH FLOW
-$44

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$266,710

PROJECTED PRICE

$1,680

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 9.02%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,678

INVESTMENT

$72,678

Down Payment
$66,678
Rehab Estimate
$2,000
Closing Costs
$4,001

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$984

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,678
Loan Amount $200,033
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,701

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6453$1,6804$1,7255$1,795
$1,795
RENT COMPS ANALYSIS
  • 2826 Silo Turn Street New Braunfels, TX 3
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.97
    •  
  • 2026 Castleberry Rdg New Braunfels, TX 1
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 107 Laurel Grace Ln New Braunfels, TX 2
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 2020
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.97
    •  
  • 2580 Diamondback Trl New Braunfels, TX 4
    • 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 2014
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.99
    •  
  • 1030 Lauren Street New Braunfels, TX 5
    • 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 2015
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
PROPERTY LISTING DETAILS
Dennis Pennings
1.920.264.4338
Brothers Group Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2711203
Last Updated: 12/19/2020
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