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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $159.80
- 4 Days on Market
- MLS # : 7094476
- Updated Date : 12/12/2020 at 22:25
CONSTRUCTION
- Beds : 3
- Floor Size : 2,644 sqft
- Baths : 2 full , 1 half
Listing Agent
Jacobs & Mikeska, Realtors
Listing Agent's Description
Stately single-story home in coveted Paloma Lake! This gorgeous 2017 home features 11' to 13' ceilings and 8' doors throughout! Custom knotty alder front door, ceramic tile and carpeted flooring, dedicated study, second living area for playroom or entertainment room, gas log fireplace, custom kitchen with knotty alder cabinets, center island, lots of storage, large primary suite with extended bay window in bedroom, jetted garden tub, separate vanities, dual shower heads, deep linen closets and large walk-in closet. 100% brick and stone exterior, large covered patio wired for sound, 3-car tandem garage, no backing neighbors on a quarter-acre lot!
SEE MORE
- 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: Paloma Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paloma Lake
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,300 |
| EXPENSES | Loan Payment | -$1,559 |
| Property Tax | -$833 | |
| Property Insurance | -$176 | |
| HOA | -$48 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$415
|
||
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.
$422,500
PROJECTED PRICE
$2,300
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.79% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$117,713
LOAN DETAILS
$1,559
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $105,625 |
| Loan Amount | $316,875 |
0.58
YEARS SAVED
$1,101
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,300
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$2,314
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 03/18/20- Rent
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- $2,095
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- 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,585 Sqft ∙ Built 2012
LEASED 04/14/20- Rent
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- $2,300
- $0.89
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5717 Toscana Trace Round Rock, TX 4
- 4 beds 4 baths ∙ 2,788 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,788 Sqft ∙ Built 2018
LEASED 11/28/20- Rent
- Rent Per SQFT
- $2,600
- $0.93
PROPERTY LISTING DETAILS
1.512.462.1866
Jacobs & Mikeska, Realtors
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 7094476
Last Updated: 12/12/2020
