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365 Empress Tree Drive Leander, TX 78641

4 Beds 2 Baths 1,612 sqft Built 2020

$291,990

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $181.14
  • 4 Days on Market
  • MLS # : 1762017
  • Updated Date : 12/24/2020 at 14:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

UNDER CONSTRUCTION - EST COMPLETION IN MARCH 2021. New Elgin II plan ready to move into in March 2021. 4 bedrooms single story with granite and stainless island kitchen looking into the living area. Neighborhood pool and fitness center.

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
 

$262,791$321,189$291,990

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,077
Property Tax -$708
Property Insurance -$118
HOA -$60
Property Management Fees -$99
CASH FLOW
-$222

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.

$291,990

PROJECTED PRICE

$1,840

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-$6.0k-$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$79,377

INVESTMENT

$79,377

Down Payment
$72,998
Rehab Estimate
$2,000
Closing Costs
$4,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,998
Loan Amount $218,993
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8004$1,8405$1,850
$1,850
RENT COMPS ANALYSIS
  • 365 Empress Tree Drive Leander, TX 4
    • 4 beds 2 baths ∙ 1,612 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,612 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.14
    •  
  • 532 Merlin Ln Leander, TX 1
    • 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 2018
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.09
    •  
  • 241 Lambert Street Leander, TX 2
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2019
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.16
    •  
  • 148 Shearwater Ln Leander, TX 3
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2018
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
  • 224 Callahan Ln Leander, TX 5
    • 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2017
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
PROPERTY LISTING DETAILS
Dave Clinton
1.512.270.6196
D.r. Horton, America's Builder
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1762017
Last Updated: 12/24/2020
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