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3810 Cherokee Boulevard New Braunfels, TX 78132

3 Beds 3 Baths 1,807 sqft Built 2004

$212,500

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $117.60
  • 115 Days on Market
  • MLS # : 1976928
  • Updated Date : 12/24/2020 at 02:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Beautiful two story 1800 + Square Ft, 3 Bedroom 2.5 Bathroom home that is move-in ready! Freshly painted inside. Walking distance to Morningside Elementary School. Easy connection to I35 getting you to San Antonio or New Braunfels in minutes. Great floor plan with office downstairs for the parents to work or the kids going to school virtually! This is a must see home!FEMA - Unknown Restrictions: Yes Comm. Features: Health Club Discount

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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

Neighborhood: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k290k

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

Neighborhood: Morningside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8691847

* 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
Morningside Elementary School Primary Regular 659 46 5
Danville Middle School Middle Regular NA
Canyon High School High Regular 2,341 129 6

Morningside Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 46
5
GreatSchools Rating

Danville Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,341
  • # of teachers: 129
6
GreatSchools Rating
 

$191,250$233,750$212,500

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$784
Property Tax -$383
Property Insurance -$131
HOA -$15
Property Management Fees -$99
CASH FLOW
$118

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$212,500

PROJECTED PRICE

$1,530

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.11%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 9.32%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,063

INVESTMENT

$62,063

Down Payment
$53,125
Rehab Estimate
$5,750
Closing Costs
$3,188

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$784

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,125
Loan Amount $159,375
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$14,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,500

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,595
$1,595
RENT COMPS ANALYSIS
  • 3810 Cherokee Boulevard New Braunfels, TX 1
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.85
    •  
  • 1234 Sandhill Crane New Braunfels, TX 2
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2006
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
PROPERTY LISTING DETAILS
Gerry Anderson
1.512.965.1921
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1976928
Last Updated: 12/24/2020
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