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525 S Vail Street La Grange, TX 78945

3 Beds 2 Baths 1,430 sqft Built 1982

$229,500

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $160.49
  • 3 Days on Market
  • MLS # : 3407195
  • Updated Date : 02/05/2021 at 22:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,430 sqft
  • Baths : 2 full
Listing Agent

Diggs Real Estate Inc.

Listing Agent's Description

recent updates roof, flooring, central air & heat unit, water heater, electric stove & fresh interior paint. There is also a back patio, fenced yard and storage building. The home is located between the La Grange Elementary school and the La Grange High School.

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: 78945

ZipNIR Market*CityMarket2010Year2002 Q2201980k100k120k140k160k180k200k220k240k260k280kPrice in $68k293k

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

Zip Code: 78945

No Data Available.

* 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
La Grange Middle School Middle Regular 305 25 6
La Grange High School High Regular 603 47 6

La Grange Middle School

  • Education Level: Middle
  • # of students: 305
  • # of teachers: 25
6
GreatSchools Rating

La Grange High School

  • Education Level: High
  • # of students: 603
  • # of teachers: 47
6
GreatSchools Rating
 

$206,550$252,450$229,500

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$797
Property Tax -$384
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$187

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$229,500

PROJECTED PRICE

$1,200

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,568

INVESTMENT

$66,568

Down Payment
$57,375
Rehab Estimate
$5,750
Closing Costs
$3,443

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$797

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,375
Loan Amount $172,125
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,316

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,200
$1,200
RENT COMPS ANALYSIS
  • 525 S Vail Street La Grange, TX 2
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.84
    •  
  • 2205a Hrbacek Street La Grange, TX 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1993
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jerri Taylor
Diggs Real Estate Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3407195
Last Updated: 02/05/2021
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