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410 Sarah Drive San Marcos, TX 78666

4 Beds 2 Baths 1,768 sqft Built 1984 2 Units

$339,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

2 Units MULTIFAMILY
YES TENANTED
FACTS
  • Multi Family Home
  • Built In 1984
  • Price/Sqft : $191.74
  • 9 Days on Market
  • MLS # : 1199850
  • Updated Date : 01/09/2021 at 14:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,768 sqft
  • Baths : 2 full
Listing Agent

Land Up Realty & Investments

Listing Agent's Description

PRIME LOCATION! Walking distance to Texas State University! Investors: this duplex is part of a portfolio of 3 duplexes in the same area! Can be sold separately or as a package deal. Each duplex is identical with a unit mix of 2/1 - $2,200 gross income ($1,100/unit). Tenant pays all bills. Leases are 12 month with term expiring mid July 2021. 100% occupied. Interior was recently updated with new flooring, kitchen appliances, and a bathroom remodel. 2-3 year old roof. This is a great long term investment opportunity! Don't miss out on this rare duplex in an excellent 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: Coers

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $92k298k

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

Neighborhood: Coers

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Crockett Elementary School Primary Regular 574 34 6
Doris Miller Middle School Middle Regular 683 51 3
San Marcos High School High Regular 2,162 148 3

Crockett Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 34
6
GreatSchools Rating

Doris Miller Middle School

  • Education Level: Middle
  • # of students: 683
  • # of teachers: 51
3
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,162
  • # of teachers: 148
3
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,177
Property Tax -$623
Property Insurance -$127
HOA -$120
Property Management Fees -$198
CASH FLOW
-$45

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.

$339,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 5.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,335

INVESTMENT

$101,335

Down Payment
$84,750
Rehab Estimate
$11,500
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$12,554

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
Kaylee Sutton
1.512.470.4237
Land Up Realty & Investments
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1199850
Last Updated: 01/09/2021
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