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5608 Netleaf Road Austin, TX 78724

4 Beds 3 Baths 2,168 sqft Built 2004

$249,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $114.85
  • 4 Days on Market
  • MLS # : 5737162
  • Updated Date : 11/20/2020 at 19:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,168 sqft
  • Baths : 2 full , 1 half
Listing Agent

Luisa Mauro Real Estate

Listing Agent's Description

MULTIPLE OFFERS. HIGHEST AND BEST OFFERS DUE MON 11/23 BY 1PM. Well maintained and ready for move-in! Located in fantastic location just 3.5 miles from new Tesla site, 5 miles to airport, easy access to the 130 toll, downtown, COTA & more! Spacious floorplan features two living areas on main level and one on second level, tons of natural light, gas fireplace, kitchen that opens to living area, vaulted ceilings, bedroom on first floor that makes a great office/study. Recently installed tile in kitchen, informal dining space off kitchen, tons of storage and counter space as well as 5 burner gas convection oven. Master suite contains full bath with dual vanity, separate tub/shower and huge walk in closet. Great sized secondary bedrooms on second level and additional full bath. Shaded front yard with covered porch and expansive backyard complete with patio, fenced in garden area or dog run and shed for extra storage space. Amenities include two playgrounds and basketball court. Close to schools and only 1.5 miles to the Colorado River.

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

Neighborhood: Forest Bluff

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $84k378k

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

Neighborhood: Forest Bluff

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600170018001900Rent in $6141966

* 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
Gilbert Elementary School Primary Regular 639 45 NA
Dailey Middle School Middle Regular 706 56 3
Del Valle High School High Regular 2,851 171 3

Gilbert Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 45
NA
GreatSchools Rating

Dailey Middle School

  • Education Level: Middle
  • # of students: 706
  • # of teachers: 56
3
GreatSchools Rating

Del Valle High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 171
3
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$919
Property Tax -$490
Property Insurance -$149
HOA -$20
Property Management Fees -$132
CASH FLOW
-$59

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.

$249,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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-$4.0k-$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$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,783

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6754$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 5608 Netleaf Road Austin, TX 2
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 6211 Wideleaf Drive Austin, TX 1
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2018
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 4735 Castleman Drive Austin, TX 3
    • 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,124 Sqft ∙ Built 1997
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.79
    •  
  • 5905 Montrelia Drive Austin, TX 4
    • 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,992 Sqft ∙ Built 2017
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 5704 Ronee Leah Austin, TX 5
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2019
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
PROPERTY LISTING DETAILS
Luisa Mauro
1.512.633.8220
Luisa Mauro Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5737162
Last Updated: 11/20/2020
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