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503 Maple Run Round Rock, TX 78664

3 Beds 3 Baths 1,474 sqft Built 1985

$250,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $169.61
  • 3 Days on Market
  • MLS # : 7033564
  • Updated Date : 11/21/2020 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,474 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mallach And Company

Listing Agent's Description

Beautifully maintained home in Round Rock. Kitchen has granite countertops, newly painted cabinets and many things have been replaced making this home hard to pass up. It has a new roof, new A/C, New Hot Water Heater and New Garbage Disposal. The carpet is less than a year old, the washer/dryer and fridge convey. It has also been professionally cleaned and will be again prior to move-in. This home is a must see!

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

Neighborhood: South Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k298k

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

Neighborhood: South Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7941828

* 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
Callison Elementary School Primary Regular 862 59 4
C.d. Fulkes Middle School Middle Regular 757 61 4
Cedar Ridge High School High Regular 2,718 178 7

Callison Elementary School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 59
4
GreatSchools Rating

C.d. Fulkes Middle School

  • Education Level: Middle
  • # of students: 757
  • # of teachers: 61
4
GreatSchools Rating

Cedar Ridge High School

  • Education Level: High
  • # of students: 2,718
  • # of teachers: 178
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$922
Property Tax -$508
Property Insurance -$110
Property Management Fees -$131
CASH FLOW
-$32

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.

$250,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.5%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,6404$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 503 Maple Run Round Rock, TX 3
    • 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.11
    •  
  • 2107 Willow Way Round Rock, TX 1
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1985
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.10
    •  
  • 508 Maple Run Round Rock, TX 2
    • 3 beds 3 baths ∙ 1,401 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,401 Sqft ∙ Built 1986
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.14
    •  
  • 505 Trinity Bend Round Rock, TX 4
    • 3 beds 3 baths ∙ 1,515 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,515 Sqft ∙ Built 2014
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.12
    •  
  • 2109 Willow Way Round Rock, TX 5
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1985
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jodi Robinson
1.512.844.9689
Mallach And Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7033564
Last Updated: 11/21/2020
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