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505 Evening Star Drive Kyle, TX 78640

4 Beds 2 Baths 2,001 sqft Built 2014

$289,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $144.88
  • 3 Days on Market
  • MLS # : 1634722
  • Updated Date : 01/01/2021 at 15:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,001 sqft
  • Baths : 2 full
Listing Agent

Texas Open Door Realty

Listing Agent's Description

Well maintained 4/2 bath home in Woodlands Park. Entry way opens to a large kitchen, eating area, and living room with high ceilings. The accessible flex space is perfect as a media room, office, or for other use. The master suite is separated from additional bedrooms, allowing guests to have more privacy. Step out back to enjoy the covered patio, and wind down.

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: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,070
Property Tax -$667
Property Insurance -$140
HOA -$21
Property Management Fees -$99
CASH FLOW
-$146

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.

$289,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8253$1,8504$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 505 Evening Star Drive Kyle, TX 5
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 1502 Star Meadow Kyle, TX 1
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 2014
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 1464 Star Meadow Kyle, TX 2
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2014
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.91
    •  
  • 953 Apricot Dr Kyle, TX 3
    • 3 beds 3 baths ∙ 2,163 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,163 Sqft ∙ Built 2013
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 187 Prairie Dawn Kyle, TX 4
    • 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 2007
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jon Angelovich
1.360.292.9796
Texas Open Door Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1634722
Last Updated: 01/01/2021
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