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497 Melody Wind New Braunfels, TX 78130

3 Beds 2 Baths 1,320 sqft Built 2013

$205,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $155.30
  • 3 Days on Market
  • MLS # : 2304776
  • Updated Date : 12/11/2020 at 23:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Cute & cozy 3BR/2BA home nestled on a corner lot in Whisperwind! Beautiful & airy open floorplan. Covered patio out back is perfect for relaxing with a sweet tea! Breezeway can be converted into a patio or extra storage space.

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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

Neighborhood: Oelkers Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

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

Neighborhood: Oelkers Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* 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
Freiheit Elementary School Primary Regular 561 38 4
Canyon Middle School Middle Regular 1,073 61 6
Canyon High School High Regular 2,341 129 6

Freiheit Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 38
4
GreatSchools Rating

Canyon Middle School

  • Education Level: Middle
  • # of students: 1,073
  • # of teachers: 61
6
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,341
  • # of teachers: 129
6
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$756
Property Tax -$369
Property Insurance -$103
HOA -$14
Property Management Fees -$99
CASH FLOW
$178

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$205,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 2.3%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$22,531

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,404

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,5204$1,600
$1,600
RENT COMPS ANALYSIS
  • 497 Melody Wind New Braunfels, TX 3
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.15
    •  
  • 553 Creekside Circle New Braunfels, TX 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2013
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 315 Eugene Pass New Braunfels, TX 2
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2020
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 2060 Brandywine Drive New Braunfels, TX 4
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 2016
    property image
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jaymes Willoughby
1.512.347.9599
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2304776
Last Updated: 12/11/2020
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