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

504 Sunny Brook Drive Leander, TX 78641

3 Beds 2 Baths 1,297 sqft Built 1996

$230,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $177.33
  • 3 Days on Market
  • MLS # : 9954535
  • Updated Date : 11/13/2020 at 16:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,297 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Charming single story home in North Creek in Leander! Open and inviting floor plan with large family room w/ fireplace, updated kitchen and laminate wood floors. Recent HVACGenerous backyard with terraced back patio and private shed. Award Winning LISD Schools. Close to major shopping, highways and light rail! Currently Leased Through May 31st 2021 for $1,455/mo Market Rent $1550-1600

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Bagdad Elementary School Primary Regular 553 53 3
Leander Middle School Middle Regular 862 63 6
Glenn High School High Unknown NA

Bagdad Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 53
3
GreatSchools Rating

Leander Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 63
6
GreatSchools Rating

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$849
Property Tax -$532
Property Insurance -$100
Property Management Fees -$110
CASH FLOW
-$211

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.

$230,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,459

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,5003$1,5504$1,650
$1,650
RENT COMPS ANALYSIS
  • 504 Sunny Brook Drive Leander, TX 1
    • 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.06
    •  
  • 602 Clear Spring Ln Leander, TX 2
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1995
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.17
    •  
  • 1704 Southcreek Drive Leander, TX 3
    • 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1995
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
  • 1137 Waterfall Ave Leander, TX 4
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2020
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
PROPERTY LISTING DETAILS
Drew Griffin
1.512.785.9765
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9954535
Last Updated: 11/13/2020
BESbswy