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520 Cinnamon Teal Lane Leander, TX 78641

4 Beds 3 Baths 2,373 sqft Built 2017

$315,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $132.74
  • 3 Days on Market
  • MLS # : 3368684
  • Updated Date : 11/20/2020 at 14:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,373 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful 4 bedroom, 2 story home in desirable Leander ISD. This home includes a wide open family room, dining room, and kitchen and opens out to the covered patio-perfect for indoor/outdoor entertaining. With high ceilings and lots of windows the house is filled with natural light. The cook's kitchen includes stainless appliances, granite countertops, 42" cabinets and a breakfast bar. The refrigerator, washer and dryer convey! The primary ensuite includes architectural details, a large walk-in closet, and, in the primary bath, cultured marble countertops with double sinks, and an oversized shower. Upstairs also includes three other spacious bedrooms, a second full bath and an oversized flex room. This room can be used as a playroom, game room or an office. It contains built in bookshelves, which provides great additional storage. The house has beautiful curb appeal and a large back yard complete with a playscape which will convey with the house. There is a gas stub on the back patio for the grill, which also conveys. This backyard is perfect for family picnics or neighborhood barbecues. With the playscape, grill, 2 tvs, washer, dryer, refrigerator, and 2" blinds throughout the house all included this beautiful home is ready for move-in!

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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: 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
Plain Elementary School Primary Regular 850 55 5
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,162
Property Tax -$764
Property Insurance -$161
HOA -$60
Property Management Fees -$171
CASH FLOW
-$178

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.

$315,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.68%

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$200k$400k$600k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,005

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9754$2,1405$2,200
$2,200
RENT COMPS ANALYSIS
  • 520 Cinnamon Teal Lane Leander, TX 4
    • 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.90
    •  
  • 329 Ancellota Way S Leander, TX 1
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2020
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 104 Blue Sage Dr Leander, TX 2
    • 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 2018
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 133 Shearwater Lane Leander, TX 3
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2018
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.88
    •  
  • 236 Syrah Court Leander, TX 5
    • 5 beds 3 baths ∙ 2,409 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,409 Sqft ∙ Built 2020
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Angela Hawkins
1.281.901.4730
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3368684
Last Updated: 11/20/2020
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