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320 Patton Lane Bastrop, TX 78602

3 Beds 2 Baths 1,780 sqft Built 2002

$239,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $134.27
  • 2 Days on Market
  • MLS # : 2932024
  • Updated Date : 12/06/2020 at 02:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 2 full
Listing Agent

Lori Haring Realty

Listing Agent's Description

Great location in Riverside Grove! Come see this corner lot home. Get ready to move in. Storage building in backyard conveys.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Riverside Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $117k298k

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

Neighborhood: Riverside Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7131723

* 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
Mina Elementary School Primary Regular 592 39 5
Bastrop Middle School Middle Regular 707 48 4
Bastrop High School High Regular 1,253 87 4

Mina Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
5
GreatSchools Rating

Bastrop Middle School

  • Education Level: Middle
  • # of students: 707
  • # of teachers: 48
4
GreatSchools Rating

Bastrop High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 87
4
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$882
Property Tax -$406
Property Insurance -$127
HOA -$7
Property Management Fees -$99
CASH FLOW
-$192

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.

$239,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,4753$1,5504$1,675
$1,675
RENT COMPS ANALYSIS
  • 320 Patton Lane Bastrop, TX 1
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.75
    •  
  • 218 Jennifer Lane Bastrop, TX 2
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.83
    •  
  • 216 Jennifer Ln Bastrop, TX 3
    • 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 2004
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 323 Nicole Way Bastrop, TX 4
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 2001
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jacqueline Short
1.979.702.2229
Lori Haring Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2932024
Last Updated: 12/06/2020
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