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513 Riverway Lane Leander, TX 78641

3 Beds 3 Baths 2,134 sqft Built 2000

$262,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $122.77
  • 2 Days on Market
  • MLS # : 7386968
  • Updated Date : 11/02/2020 at 14:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,134 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jbgoodwin Realtors Nw

Listing Agent's Description

Great home, vacant & ready to show. Recently painted main floor, granite counter tops and a cozy fireplace in the living area. A loft at the top of the stairs allows for extra play or work space. This beautiful home has a spacious/gated back yard with a play scape and shed for extra storage space. It is located within walking distance from Devine Park and minutes away from shopping, ACC San Gabriel Campus and the MetroRail station.

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
 

$235,800$288,200$262,000

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 -$967
Property Tax -$606
Property Insurance -$147
Property Management Fees -$133
CASH FLOW
-$193

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.

$262,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.63%

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$800k

PROJECTED ANNUAL CASH FLOW

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

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$75,180

INVESTMENT

$75,180

Down Payment
$65,500
Rehab Estimate
$5,750
Closing Costs
$3,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$967

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,500
Loan Amount $196,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$947

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
  • $0.78

    LIST RENT PER SQFT
  • $1,787

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6603$1,6954$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 513 Riverway Lane Leander, TX 2
    • 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,134 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.78
    •  
  • 803 Eaglecreek Dr Leander, TX 1
    • 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2001
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 813 Eaglecreek Dr Leander, TX 3
    • 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 2001
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 1121 Waterfall Avenue Leander, TX 4
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2019
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 706 Maplecreek Dr Leander, TX 5
    • 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 2000
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
PROPERTY LISTING DETAILS
Everardo Valdovinos
1.512.903.6222
Jbgoodwin Realtors Nw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7386968
Last Updated: 11/02/2020
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