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329 Stone Park New Braunfels, TX 78130

3 Beds 2 Baths 1,500 sqft Built 2000

$204,725

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 2000
  • Price/Sqft : $136.48
  • 91 Days on Market
  • MLS # : 7682086
  • Updated Date : 10/28/2020 at 23:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Heartland Ranch & Realty

Listing Agent's Description

Excellent space at remarkable price! This well maintained, single story home is ready for a new owner. Whether you're just starting your home ownership adventure, want to expand your investment portfolio, or are looking for a change of scenery, this place is sure to be a great fit. The open floor plan is ideal for entertaining friends and family. Make new memories as you gather in the spacious kitchen, or relax in the shade of your roomy backyard. Come check it out and see what this charmer has to offer!

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

Neighborhood: Stone Gate

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

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

Neighborhood: Stone Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* 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
Freiheit Elementary School Primary Regular 561 38 4
Canyon Middle School Middle Regular 1,073 61 6
Canyon High School High Regular 2,341 129 6

Freiheit Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 38
4
GreatSchools Rating

Canyon Middle School

  • Education Level: Middle
  • # of students: 1,073
  • # of teachers: 61
6
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,341
  • # of teachers: 129
6
GreatSchools Rating
 

$184,253$225,198$204,725

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$755
Property Tax -$369
Property Insurance -$114
HOA -$13
Property Management Fees -$117
CASH FLOW
$93

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$204,725

PROJECTED PRICE

$1,460

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,002

INVESTMENT

$60,002

Down Payment
$51,181
Rehab Estimate
$5,750
Closing Costs
$3,071

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$755

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,181
Loan Amount $153,544
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$12,994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,595

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4603$1,4954$1,600
$1,600
RENT COMPS ANALYSIS
  • 329 Stone Park New Braunfels, TX 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.97
    •  
  • 553 Creekside Cir New Braunfels, TX 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2013
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 315 Eugene Pass New Braunfels, TX 3
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2020
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 2060 Brandywine Dr New Braunfels, TX 4
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2016
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
PROPERTY LISTING DETAILS
Amy Mendoza
1.512.963.1303
Heartland Ranch & Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7682086
Last Updated: 10/28/2020
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