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448 Westminster Drive Kyle, TX 78640

3 Beds 2 Baths 1,358 sqft Built 2017

$239,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $176.66
  • 7 Days on Market
  • MLS # : 1371069
  • Updated Date : 11/16/2020 at 23:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Century 21 Randall Morris

Listing Agent's Description

Beautiful well maintained home on a large corner lot that backs up to a green space. This home offer a large expanded deck out back with a new storage shed on the side. New light fixtures, double oven gas stove and more. Neighborhood has a great pool just around the corner from this home and a great park as well. Close to Austin and I-35. Minutes to Seton Hospital, HEB, and much more in the Kyle area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Science Hall Elementary School Primary Regular 752 48 4
Chapa Middle School Middle Regular 692 39 4
Lehman High School High Regular 2,303 116 4

Science Hall Elementary School

  • Education Level: Primary
  • # of students: 752
  • # of teachers: 48
4
GreatSchools Rating

Chapa Middle School

  • Education Level: Middle
  • # of students: 692
  • # of teachers: 39
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$885
Property Tax -$552
Property Insurance -$104
HOA -$20
Property Management Fees -$117
CASH FLOW
-$218

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.

$239,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,4753$1,4954$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 448 Westminster Drive Kyle, TX 1
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.08
    •  
  • 328 Nottingham Loop Kyle, TX 2
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2012
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.03
    •  
  • 252 Nottingham Loop Kyle, TX 3
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 2011
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.10
    •  
  • 173 Sapphire Lake Dr Kyle, TX 4
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 2002
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 133 Opal Lake Dr Kyle, TX 5
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2007
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
PROPERTY LISTING DETAILS
Milissa Wilson
1.512.557.7146
Century 21 Randall Morris
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1371069
Last Updated: 11/16/2020
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