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414 Village Lane Buda, TX 78610

3 Beds 2 Baths 1,322 sqft Built 1993

$224,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $170.12
  • 5 Days on Market
  • MLS # : 8399965
  • Updated Date : 10/30/2020 at 22:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,322 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Prosper

Listing Agent's Description

Welcome to Village Lane! This street has 24 homes where the HOA maintains the front yard and sprinkler system. Tile throughout, open concept, and an inlaw plan! The backyard is quaint and low maintenance blank canvas waiting for xeroscaping, AstroTurf, or a small garden. Just a quick walk or ride to thriving downtown Buda with its many restaurants and shops.

SEE MORE

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

Zip Code: 78610

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $126k298k

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

Zip Code: 78610

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9371840

* 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
Buda Elementary School Primary Regular 467 31 5
Barton Middle School Middle Regular 1,016 53 8
Hays High School High Regular 2,409 121 6

Buda Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 31
5
GreatSchools Rating

Barton Middle School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 53
8
GreatSchools Rating

Hays High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 121
6
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$830
Property Tax -$487
Property Insurance -$102
HOA -$50
Property Management Fees -$124
CASH FLOW
-$42

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.

$224,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,371

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,381

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6504$1,650
$1,650
RENT COMPS ANALYSIS
  • 414 Village Lane Buda, TX 2
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.17
    •  
  • 303 El Mirador Street Buda, TX 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1987
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 331 Shale Circle Buda, TX 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2017
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 305 Hidatsa St Buda, TX 4
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1980
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
PROPERTY LISTING DETAILS
Amanda Rickman
1.512.557.2358
Realty One Group Prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8399965
Last Updated: 10/30/2020
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