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500 E Ash Johnson City, TX 78636

3 Beds 2 Baths 1,630 sqft Built 2017

$350,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $214.72
  • 4 Days on Market
  • MLS # : 2724580
  • Updated Date : 01/09/2021 at 22:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,630 sqft
  • Baths : 2 full
Listing Agent

Topper Real Estate

Listing Agent's Description

Live in the heart of a small town... this single story 3bed/2 bath home offers open space living, beautiful engineered hard wood flooring, limestone rock island, SS appliances, and Granite Countertops. With the level .34 acre lot there is plenty of space for entertaining. Quick and easy walk to the Elementary and Middle School.Enjoy several local restaurants on the town square.

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

Zip Code: 78636

ZipNIR Market*CityMarket2010Year2000 Q2201980k100k120k140k160k180k200k220k240k260k280kPrice in $66k295k

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

Zip Code: 78636

No Data Available.

* 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
Lyndon B Johnson Middle School Primary Regular 201 17 6
Lyndon B Johnson Middle School Middle Regular 201 17 6
Lyndon B Johnson High School High Regular 231 21 5

Lyndon B Johnson Middle School

  • Education Level: Primary
  • # of students: 201
  • # of teachers: 17
6
GreatSchools Rating

Lyndon B Johnson Middle School

  • Education Level: Middle
  • # of students: 201
  • # of teachers: 17
6
GreatSchools Rating

Lyndon B Johnson High School

  • Education Level: High
  • # of students: 231
  • # of teachers: 21
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,216
Property Tax -$617
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
-$349

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,646

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,700
$1,700
RENT COMPS ANALYSIS
  • 500 E Ash Johnson City, TX 2
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 507 E Pecan Dr Johnson City, TX 1
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1971
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jenna Moore
1.512.695.1799
Topper Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2724580
Last Updated: 01/09/2021
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