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410 Patton Cove Bastrop, TX 78602

3 Beds 2 Baths 2,580 sqft Built 2002

$199,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $77.48
  • 2 Days on Market
  • MLS # : 4664749
  • Updated Date : 01/09/2021 at 16:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,580 sqft
  • Baths : 2 full
Listing Agent

Pure Realty

Listing Agent's Description

Absolute Bargain! Unbelievable Price! Priced low and firm for your pre-approved buyer who wants a great deal on a super home. It won't last long at this low price so hurry to write a squeaky clean offer now and save yourself all the fun of a counter offer! Don't miss this golden opportunity for a fantastic deal at this desirable location.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Riverside Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $117k298k

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

Neighborhood: Riverside Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7131723

* 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
Mina Elementary School Primary Regular 592 39 5
Bastrop Middle School Middle Regular 707 48 4
Bastrop High School High Regular 1,253 87 4

Mina Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
5
GreatSchools Rating

Bastrop Middle School

  • Education Level: Middle
  • # of students: 707
  • # of teachers: 48
4
GreatSchools Rating

Bastrop High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 87
4
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$694
Property Tax -$378
Property Insurance -$172
HOA -$7
Property Management Fees -$99
CASH FLOW
$289

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.

$199,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$33,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6004$1,6405$1,750
$1,750
RENT COMPS ANALYSIS
  • 410 Patton Cove Bastrop, TX 4
    • 3 beds 2 baths ∙ 2,580 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,580 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.64
    •  
  • 618 Elizabeth Lane Bastrop, TX 1
    • 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 2001
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.65
    •  
  • 730 Blair Avenue Bastrop, TX 2
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2002
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.68
    •  
  • 722 Annika Way Bastrop, TX 3
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2001
    property image
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 302 Patton Lane Bastrop, TX 5
    • 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2002
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jeremy Kritt
1.512.580.9563
Pure Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4664749
Last Updated: 01/09/2021
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