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3520 Black Granite Drive Austin, TX 78744

3 Beds 3 Baths 1,835 sqft Built 2016

$299,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $162.94
  • 2 Days on Market
  • MLS # : 4535452
  • Updated Date : 12/06/2020 at 01:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 2story located in highly sought after Colorado Crossing. Offering 3 bedrooms, 2.5 baths with wide open floor plan, high ceilings and loads of windows allowing for abundant natural light. Large kitchen open to family room with center island, granite countertops & stainless steel appliances. Spacious bonus room up. Master suite with dual vanities, garden tub, separate shower and walk in closet. Enjoy entertaining in landscaped private backyard on the patio. Minutes from downtown, airport, shopping & dining.

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: Southeast Austin

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $96k378k

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

Neighborhood: Southeast Austin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7761966

* 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
Smith Elementary School Primary Regular 830 52 5
John P Ojeda Middle School Middle Regular 963 78 2
Del Valle High School High Regular 2,851 171 3

Smith Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 52
5
GreatSchools Rating

John P Ojeda Middle School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 78
2
GreatSchools Rating

Del Valle High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 171
3
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,103
Property Tax -$588
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$41

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$299,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$14,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,931

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,8753$1,8954$1,900
$1,900
RENT COMPS ANALYSIS
  • 3520 Black Granite Drive Austin, TX 1
    • 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.12
    •  
  • 7012 Spirit Hill Road Austin, TX 2
    • 4 beds 2 baths ∙ 1,621 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,621 Sqft ∙ Built 2020
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.16
    •  
  • 7017 Spirit Hill Rd Austin, TX 3
    • 4 beds 2 baths ∙ 1,646 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,646 Sqft ∙ Built 2020
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.15
    •  
  • 3521 Alpine Autumn Austin, TX 4
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2016
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
PROPERTY LISTING DETAILS
Ryanne Vaughan
1.512.270.9757
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4535452
Last Updated: 12/06/2020
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