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513 Faircrest Drive Buda, TX 78610

4 Beds 3 Baths 2,659 sqft Built 2000

$347,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $130.50
  • 2 Days on Market
  • MLS # : 1143749
  • Updated Date : 02/07/2021 at 02:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,659 sqft
  • Baths : 2 full , 1 half
Listing Agent

Levi Rodgers Real Estate Group

Listing Agent's Description

Prepare to be impressed with this one of a kind 4 bedroom, 2.5 bathroom, 2 story home in quiet and established Bradfield Village. This move-in-ready home features richly-appointed shared spaces, including formal and open dining areas, a spacious living room centered by a wood-burning fireplace, and a professional-grade kitchen. Cooking and entertaining will be a delight in the kitchen, equipped with granite countertops, stainless steel appliances, a deep walk-in pantry, an expansive middle island, a breakfast bar, and access to a utility room with extra storage space. The adjoining breakfast area has sliding glass doors that lead out to a private deck within a fenced backyard oasis, complete with a built-in fire pit. Upstairs features a customizable loft or leisure room. All 4 bedrooms include sizable walk-in closets, and the guest bedroom features double vanity sinks. Inside the primary bedroom, you will find a spa-like en-suite bathroom complete with a garden tub and walk-in shower. Additional highlights include a detached 3 car garage, a carport, water softener, and an automatic solar gate. Enjoy easy access to I-35, parks, green spaces, and Historic Downtown Buda.

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

Zip Code: 78610

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $126k298k

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

Zip Code: 78610

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9371840

* 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
Buda Elementary School Primary Regular 467 31 5
Barton Middle School Middle Regular 1,016 53 8
Hays High School High Regular 2,409 121 6

Buda Elementary School

  • Education Level: Primary
  • # of students: 467
  • # of teachers: 31
5
GreatSchools Rating

Barton Middle School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 53
8
GreatSchools Rating

Hays High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 121
6
GreatSchools Rating
 

$312,300$381,700$347,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,205
Property Tax -$751
Property Insurance -$177
HOA -$18
Property Management Fees -$99
CASH FLOW
-$220

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.

$347,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,705

INVESTMENT

$97,705

Down Payment
$86,750
Rehab Estimate
$5,750
Closing Costs
$5,205

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,205

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,750
Loan Amount $260,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,518

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,154

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9353$2,0304$2,1005$2,195
$2,195
RENT COMPS ANALYSIS
  • 513 Faircrest Drive Buda, TX 3
    • 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.76
    •  
  • 1661 Stone Rim Loop Buda, TX 1
    • 3 beds 3 baths ∙ 2,332 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,332 Sqft ∙ Built 2006
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 191 Stone Crest Boulevard Buda, TX 2
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.75
    •  
  • 161 Andesite Trl Buda, TX 4
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2019
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 486 Pond View Pass Buda, TX 5
    • 4 beds 3 baths ∙ 2,586 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,586 Sqft ∙ Built 2015
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.85
    •  
PROPERTY LISTING DETAILS
Levi Rodgers
Levi Rodgers Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1143749
Last Updated: 02/07/2021
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