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331 Rummel Drive Kyle, TX 78640

3 Beds 3 Baths 1,784 sqft Built 2009

$254,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $142.88
  • 2 Days on Market
  • MLS # : 9918788
  • Updated Date : 02/07/2021 at 01:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,784 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Realty Advisors

Listing Agent's Description

Great 2 story floor plan with HUGE backyard on a safe cul-de-sac in the highly desirable Waterleaf subdivision in Kyle, TX. Large kitchen, living, and breakfast on 1st floor with convenient half bath. 2nd floor features very large master with on suite bath, walk in closet and double vanity, 2 secondary bedrooms and laundry. Back yard is a blank canvas for the private oasis of your dreams! All the room you'll ever need for your future pool, playscape, and fire pit. Have a trampoline, need a dog run, or want to build the perfect garden...there's room for it all! Residents in Waterleaf enjoy access to several amenities including a community pool with lap lanes, sidewalks throughout, basketball and sand volleyball courts, covered pavilions for safe social gatherings, a playground, and tons of green spaces including several baseball fields. Waterleaf is a social community hosting many events and activities year round. These events include community garage sales, movies in the park, spring fling parties, holiday celebrations, and more! *Paint touch ups and carpet cleaning have been done since photos were taken. Updated photos coming Saturday afternoon.*

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$885
Property Tax -$587
Property Insurance -$127
HOA -$32
Property Management Fees -$99
CASH FLOW
-$31

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.

$254,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,788

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6753$1,7004$1,875
$1,875
RENT COMPS ANALYSIS
  • 331 Rummel Drive Kyle, TX 3
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 301 Rummel Drive Kyle, TX 1
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 2012
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 534 Apricot Dr Kyle, TX 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2009
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.99
    •  
  • 177 Prairie Dawn Kyle, TX 4
    • 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 2008
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.00
    •  
PROPERTY LISTING DETAILS
Courtney Lester
Elite Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9918788
Last Updated: 02/07/2021
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