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3149 Corrigan Lane Round Rock, TX 78665

3 Beds 2 Baths 2,343 sqft Built 2007

$305,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $130.17
  • 4 Days on Market
  • MLS # : 7203073
  • Updated Date : 01/08/2021 at 16:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,343 sqft
  • Baths : 2 full
Listing Agent

Realty Texas Llc

Listing Agent's Description

Spacious one story in sought after Settlers Crossing. This 3 bedroom, two bath home is close to Old Settlers Park, Dell Diamond and Kalahari Resort Waterpark. Beautiful stone home with an office/flex space and a fireplace in the family room. 3d walk through available on the virtual tour link.

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: Settlers Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k410k

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

Neighborhood: Settlers Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9442157

* 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
Herrington Elementary School Primary Unknown 847 57 NA
Hopewell Middle School Middle Regular 967 62 8
Stony Point High School High Regular 2,463 173 6

Herrington Elementary School

  • Education Level: Primary
  • # of students: 847
  • # of teachers: 57
NA
GreatSchools Rating

Hopewell Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 62
8
GreatSchools Rating

Stony Point High School

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 173
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,059
Property Tax -$620
Property Insurance -$159
HOA -$28
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 15% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,280

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7453$1,8004$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 3149 Corrigan Lane Round Rock, TX 3
    • 3 beds 2 baths ∙ 2,343 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,343 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 2156 Pearson Round Rock, TX 1
    • 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 2003
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 3250 Corrigan Lane Round Rock, TX 2
    • 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2005
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.75
    •  
  • 1027 Chad Loop Round Rock, TX 4
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2017
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 2008 Santa Barbara Court Round Rock, TX 5
    • 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2011
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
PROPERTY LISTING DETAILS
Cheryl Wykes
1.512.796.7486
Realty Texas Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7203073
Last Updated: 01/08/2021
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