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305 E Atkinson Street Florence, TX 76527

3 Beds 2 Baths 1,415 sqft Built 2021

$255,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $180.21
  • 5 Days on Market
  • MLS # : 2860147
  • Updated Date : 01/13/2021 at 14:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 2 full
Listing Agent

Chambers & Co. Your Realty

Listing Agent's Description

New Const Plan 1450 3/2/2 with garage opener installed. Kitchen Appliances except Frig Granite tops in kit Breakfast area and single dine. Dbl vanity master bath granite tops in baths. Sod front and rear across from city park and pool

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: 76527

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $95k298k

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

Zip Code: 76527

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7761723

* 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
Florence Elementary School Primary Regular 448 30 4
Florence Middle School Middle Regular 235 19 4
Florence High School High Regular 310 25 2

Florence Elementary School

  • Education Level: Primary
  • # of students: 448
  • # of teachers: 30
4
GreatSchools Rating

Florence Middle School

  • Education Level: Middle
  • # of students: 235
  • # of teachers: 19
4
GreatSchools Rating

Florence High School

  • Education Level: High
  • # of students: 310
  • # of teachers: 25
2
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$886
Property Tax -$524
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$165

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,575

INVESTMENT

$69,575

Down Payment
$63,750
Rehab Estimate
$2,000
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$2,350
$2,350
RENT COMPS ANALYSIS
  • 305 E Atkinson Street Florence, TX 1
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 717 Highway 138 Florence, TX 2
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1962
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.36
    •  
PROPERTY LISTING DETAILS
Robert Chambers
1.512.635.5170
Chambers & Co. Your Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2860147
Last Updated: 01/13/2021
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