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329 E Broade Street Leander, TX 78641

3 Beds 2 Baths 1,629 sqft Built 2019

$269,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $165.68
  • 5 Days on Market
  • MLS # : 1183872
  • Updated Date : 11/01/2020 at 23:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,629 sqft
  • Baths : 2 full
Listing Agent

Dash Realty

Listing Agent's Description

Charming home that sits within the Village at Leander Station neighborhood. This is a recent build home with luxury vinyl plank, granite countertops, stainless steel appliances, arabesque backsplash and contemporary fixtures. Features an ultra low maintenance backyard with deck that overlooks the greenbelt. Two car tandem garage and plenty of parking for visitors and entertaining.

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Plain Elementary School Primary Regular 850 55 5
Wiley Middle School Middle Regular 967 63 8
Glenn High School High Unknown NA

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$996
Property Tax -$624
Property Insurance -$119
HOA -$55
Property Management Fees -$135
CASH FLOW
-$239

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$269,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,524

INVESTMENT

$73,524

Down Payment
$67,475
Rehab Estimate
$2,000
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,674

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6503$1,6504$1,6905$1,695
$1,695
RENT COMPS ANALYSIS
  • 329 E Broade Street Leander, TX 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.04
    •  
  • 241 E Broade Street Leander, TX 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2019
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.98
    •  
  • 324 E Broade Street Leander, TX 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2020
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 240 E Broade Street Leander, TX 3
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 2019
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 241 Quemado Drive Leander, TX 5
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2019
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
PROPERTY LISTING DETAILS
Job Hammond
1.512.632.0757
Dash Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1183872
Last Updated: 11/01/2020
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