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2842 Silo Turn Street New Braunfels, TX 78130

4 Beds 3 Baths 2,133 sqft Built 2020

$283,668

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $132.99
  • 31 Days on Market
  • MLS # : 4550538
  • Updated Date : 11/01/2020 at 23:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,133 sqft
  • Baths : 2 full , 1 half
Listing Agent

Brothers Group Inc

Listing Agent's Description

Beautiful new home in Preston Estates home includes Huge game room, Granite in kitchen, Large kitchen island, Tons of windows, 8ft walk-in shower in the master bath, Tile in all common areas downstairs Covered patio, Come enjoy enjoy your great Texas outdoors. Ready in December.

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: 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
 

$255,301$312,035$283,668

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,047
Property Tax -$511
Property Insurance -$150
HOA -$33
Property Management Fees -$143
CASH FLOW
-$95

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.

$283,668

PROJECTED PRICE

$1,790

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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,172

INVESTMENT

$77,172

Down Payment
$70,917
Rehab Estimate
$2,000
Closing Costs
$4,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,047

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,917
Loan Amount $212,751
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7753$1,7754$1,790
$1,790
RENT COMPS ANALYSIS
  • 2842 Silo Turn Street New Braunfels, TX 4
    • 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,133 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.84
    •  
  • 413 Jester Rdg New Braunfels, TX 1
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 2013
    LEASED 04/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 441 Roadrunner Ave New Braunfels, TX 2
    • 4 beds 3 baths ∙ 2,071 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,071 Sqft ∙ Built 2008
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 2666 Dove Crossing New Braunfels, TX 3
    • 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2010
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.81
    •  
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 #: 4550538
Last Updated: 11/01/2020
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