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306 Timpanagos Drive Austin, TX 78734

3 Beds 3 Baths 2,307 sqft Built 1982

$425,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $184.22
  • 3 Days on Market
  • MLS # : 4795666
  • Updated Date : 12/19/2020 at 19:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,307 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Single story on cul-de-sac located in highly sought after Lakeway. Featuring 3 bedrooms, 2.5 baths with wide open floorpan, fireplace, hardwoods throughout & loads of windows allowing for abundant natural light. Large eat-in kitchen with center island, ample cabinet space and views of gorgeous backyard. Spacious primary bedroom opening out onto backyard with dual vanity, jetted tub, separate shower & huge walk-in closet. Enjoy entertaining on multiple decks overlooking private backyard with mature shade trees and sparkling pool. Perfect opportunity to put your own stamp on this family home.

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

Neighborhood: Lakeway Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k504k

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

Neighborhood: Lakeway Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9972987

* 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
Serene Hills Elementary School Primary Regular 762 46 10
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Serene Hills Elementary School

  • Education Level: Primary
  • # of students: 762
  • # of teachers: 46
10
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,568
Property Tax -$870
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$84

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$425,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,624

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4953$2,4954$2,6105$2,900
$2,900
RENT COMPS ANALYSIS
  • 306 Timpanagos Drive Austin, TX 4
    • 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,307 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.13
    •  
  • 124 White Sands Dr Lakeway, TX 1
    • 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 1987
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.06
    •  
  • 1002 Lakeway Drive Lakeway, TX 2
    • 3 beds 3 baths ∙ 2,277 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,277 Sqft ∙ Built 1992
    property image
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.10
    •  
  • 1604 Lakeway Boulevard Lakeway, TX 3
    • 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,136 Sqft ∙ Built 1994
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.17
    •  
  • 607 Ladin Lane Lakeway, TX 5
    • 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 1986
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.22
    •  
PROPERTY LISTING DETAILS
Ryanne Vaughan
1.512.270.9757
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4795666
Last Updated: 12/19/2020
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