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488 Silver Springs Bend Kyle, TX 78640

4 Beds 3 Baths 2,017 sqft Built 2021

$327,048

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $162.15
  • 4 Days on Market
  • MLS # : 7841558
  • Updated Date : 01/29/2021 at 15:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,017 sqft
  • Baths : 2 full , 1 half
Listing Agent

Legacy Austin Realty

Listing Agent's Description

Brand new home located in the beautiful Cool Springs community. Welcome to the Lyric floor plan. Equipped with a covered patio, stainless steel appliances, tile floors, upgraded 42” cabinets, open concept kitchen with large center island, and granite countertops. Walk in shower in the master bathroom. Enjoy three fishing ponds, new community pool, and future frisbee golf course. “Texas-sized” park is planned for 2020. Wide streets and comfortable homesites provide a spacious and relaxing feel. June/July 2021 Completion. No investor sales. Milestone Community Builders.

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: 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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

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

$294,343$359,753$327,048

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,136
Property Tax -$741
Property Insurance -$141
HOA -$50
Property Management Fees -$99
CASH FLOW
-$377

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$327,048

PROJECTED PRICE

$1,790

PROJECTED RENT

0.55%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,668

INVESTMENT

$88,668

Down Payment
$81,762
Rehab Estimate
$2,000
Closing Costs
$4,906

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,762
Loan Amount $245,286
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$91

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,745

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6854$1,7905$1,850
$1,850
RENT COMPS ANALYSIS
  • 488 Silver Springs Bend Kyle, TX 4
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 321 New Bridge Dr Kyle, TX 1
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2015
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 133 Gina Drive Kyle, TX 2
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2012
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 350 Gina Dr Kyle, TX 3
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2013
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.86
    •  
  • 187 Prairie Dawn Kyle, TX 5
    • 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 2007
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Autumn Lapaglia
1.512.468.0241
Legacy Austin Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7841558
Last Updated: 01/29/2021
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