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580 Sheep Trail Drive Kyle, TX 78640

3 Beds 3 Baths 2,503 sqft Built 2007

$275,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $109.87
  • 4 Days on Market
  • MLS # : 9015072
  • Updated Date : 03/18/2021 at 20:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,503 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This contemporary 3 bedroom, 2.5 bath home is located in the sought after waterleaf subdivision. This home stands out with beautiful views of the hill country from patio and from master bedroom, great curb appeal, a bright red front door, unique garage design, & warm wooden shutters. Entrance to the home opens up into two living spaces. Massive kitchen with tiled floors and granite counter-tops leads to dining space that overlooks backyard patio. Appliances included: microwave, dishwasher, & oven. Off of kitchen is one of the two living spaces with the fireplace as the centerpiece. Primary bedrooms are located on second level. Large upstairs master bedroom with a large walk in closet off of master bath. In addition to having its own large private backyard with patio, this home also has access to neighborhood amenities include pool, park, basketball court, and trails. Special features include large upstairs loft/flex space, built in desk in kitchen/common space, separate laundry/utility room, concrete back patio.

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: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$955
Property Tax -$633
Property Insurance -$168
HOA -$34
Property Management Fees -$99
CASH FLOW
-$69

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.

$275,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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-$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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7503$1,8204$1,8255$1,895
$1,895
RENT COMPS ANALYSIS
  • 580 Sheep Trail Drive Kyle, TX 3
    • 3 beds 3 baths ∙ 2,503 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,503 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.73
    •  
  • 1350 Amy Drive Kyle, TX 1
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2020
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.74
    •  
  • 1745 Amy Drive Kyle, TX 2
    • 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2015
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 751 New Bridge Drive Kyle, TX 4
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2006
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.73
    •  
  • 264 Tower Drive Kyle, TX 5
    • 3 beds 3 baths ∙ 2,503 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,503 Sqft ∙ Built 2010
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.76
    •  
PROPERTY LISTING DETAILS
Wendy Papasan
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9015072
Last Updated: 03/18/2021
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