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505 Pigeon Forge Pflugerville, TX 78660

3 Beds 2 Baths 1,563 sqft Built 1987

$239,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $152.91
  • 5 Days on Market
  • MLS # : 7345011
  • Updated Date : 11/05/2020 at 17:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,563 sqft
  • Baths : 2 full
Listing Agent

Trent Matthew Smith

Listing Agent's Description

Charming 3 bedroom 2 bath home in old Pflugerville. Renovated Kitchen with new cabinets, granite countertops and new appliances. Washer, Dryer and Refrigerator convey. New paint inside and out. Fresh landscaping and a new fence. Come see all the potential of this wonderful home.

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

Neighborhood: Gatlinburg

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $93k298k

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

Neighborhood: Gatlinburg

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8291779

* 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
Pflugerville Elementary School Primary Regular 470 34 7
Cele Middle School Middle Unknown 765 50 NA

Pflugerville Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 34
7
GreatSchools Rating

Cele Middle School

  • Education Level: Middle
  • # of students: 765
  • # of teachers: 50
NA
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$882
Property Tax -$547
Property Insurance -$115
Property Management Fees -$133
CASH FLOW
-$16

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.

$239,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.0%
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$900k

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$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,559

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6604$1,825
$1,825
RENT COMPS ANALYSIS
  • 505 Pigeon Forge Pflugerville, TX 3
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.06
    •  
  • 1606 Dove Haven Drive Pflugerville, TX 1
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1984
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 910 Wild Petunia Way Pflugerville, TX 2
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1999
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 1505 Old Tract Road Pflugerville, TX 4
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 1984
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.06
    •  
PROPERTY LISTING DETAILS
Austin Holloway-jones
1.512.627.9735
Trent Matthew Smith
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7345011
Last Updated: 11/05/2020
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