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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $118.64
- 3 Days on Market
- MLS # : 5090082
- Updated Date : 12/05/2020 at 23:01
CONSTRUCTION
- Beds : 3
- Floor Size : 2,436 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Conveniently located close to shopping centers, outlet mall, major employees, health care, I-35 & 1431. Wide, private Cul-de-sac setting with Kimball Hill 2-story family home. Combined Formal living & Dining areas with soaring 2-story ceiling. Open Family room to kitchen with breakfast/serving bar creates flowing, entertaining plan. Open patio in terraced backyard expands entertaining needs and would be ideal for the garden enthusiast. Upstairs flex living space is ideal for Game room, Media room or Home office. Owner's suite overlooks the backyard and is situated for privacy from the secondary bedrooms. Lots of storage- pantry, walk in-closets, linen closet. Tiled indoor utility adjacent to deep 2- car garage with water softener loop.
SEE MORE
- 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: Eagle Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Eagle Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,670 |
| EXPENSES | Loan Payment | -$1,066 |
| Property Tax | -$588 | |
| Property Insurance | -$164 | |
| HOA | -$15 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$262
|
||
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.
$289,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 8.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.72% |
| 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
$82,335
LOAN DETAILS
$1,066
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,250 |
| Loan Amount | $216,750 |
0.67
YEARS SAVED
$1,096
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,670
LIST RENT -
$0.69
LIST RENT PER SQFT
-
$1,699
COMP ESTIMATED VALUE -
$0.7
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 08/04/20- Rent
- Rent Per SQFT
- $1,800
- $0.71
PROPERTY LISTING DETAILS
1.512.736.0973
Coldwell Banker Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 5090082
Last Updated: 12/05/2020
