Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

501 Shant Street Austin, TX 78748

3 Beds 2 Baths 1,261 sqft Built 1998

$300,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $237.91
  • 117 Days on Market
  • MLS # : 7595865
  • Updated Date : 12/24/2020 at 02:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,261 sqft
  • Baths : 2 full
Listing Agent

The Taylor Team

Listing Agent's Description

Restrictions: Yes

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: Park Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $98k378k

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

Neighborhood: Park Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371966

* 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
Williams Elementary School Primary Regular 513 40 5
Bedichek Middle School Middle Regular 969 72 3
Crockett High School High Regular 1,498 105 4

Williams Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 40
5
GreatSchools Rating

Bedichek Middle School

  • Education Level: Middle
  • # of students: 969
  • # of teachers: 72
3
GreatSchools Rating

Crockett High School

  • Education Level: High
  • # of students: 1,498
  • # of teachers: 105
4
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,107
Property Tax -$590
Property Insurance -$98
HOA -$17
Property Management Fees -$99
CASH FLOW
-$321

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.

$300,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$575

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,5954$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 501 Shant St Austin, TX 1
    • 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,261 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.26
    •  
  • 609 Shep St Austin, TX 2
    • 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1997
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.29
    •  
  • 9148 Swanson Ln Austin, TX 3
    • 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1997
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.29
    •  
  • 308 Natali St Austin, TX 4
    • 4 beds 3 baths ∙ 1,436 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,436 Sqft ∙ Built 1997
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.22
    •  
  • 8925 Taline Cir Austin, TX 5
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 1997
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.28
    •  
PROPERTY LISTING DETAILS
Gina Taylor
1.520.342.4966
The Taylor Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7595865
Last Updated: 12/24/2020
BESbswy