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404 Mesa Drive #a & B Del Valle, TX 78617

4 Beds 4 Baths 2,609 sqft Built 2016 2 Units

$575,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

2 Units MULTIFAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • 2-Flat Type Property
  • Built In 2016
  • Price/Sqft : $220.39
  • 2 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,609 sqft
  • Baths : 4 full
Listing Agent

Tobin

Listing Agent's Description

Great duplex, 2 beds and 2 baths on each unit on 1 acre corner lot. less than 15 miles to ABIA, bout 12 miles to Tesla and about 3 miles to F-1. The units feature with stainless steel appliances; granite counter tops, hardwood floors in living areas and Master, tile in kitchen and bathrooms, carpet in one bedroom. 1 car garage with the remote control opener. Owner pays for water and yard maintenance. Driveway entrance is share with 404 Mesa Dr. Units C & D.

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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: Rainbow East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k298k

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

Neighborhood: Rainbow East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6941723

* 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
Cedar Creek Elementary School Primary Regular 743 48 5
Cedar Creek High School High Regular 1,424 101 4

Cedar Creek Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 48
5
GreatSchools Rating

Cedar Creek High School

  • Education Level: High
  • # of students: 1,424
  • # of teachers: 101
4
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,997
Property Tax -$949
Property Insurance -$76
Property Management Fees -$198
CASH FLOW
-$621

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.

$575,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.66%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.84%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,875

INVESTMENT

$163,875

Down Payment
$143,750
Rehab Estimate
$11,500
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,220

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy