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5912 Florencia Lane Austin, TX 78724

3 Beds 3 Baths 2,532 sqft Built 2015

$569,600

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $224.96
  • 4 Days on Market
  • MLS # : 8179843
  • Updated Date : 02/27/2021 at 19:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,532 sqft
  • Baths : 2 full , 1 half
Listing Agent

Spyglass Realty

Listing Agent's Description

Immaculate modern two-story home minutes from Downtown. Stylish design located in Agave of Meadows at Trinity Crossing near major highways and several parks. Incredible open floorplan flooded with natural light is beautifully designed for hosting with two living areas. The bright and modern kitchen is sure to please with eye-catching ceiling height kitchen subway tile backsplash and sparkling appliances. An oversized center island with bar seating is a must-have for family gatherings. Gorgeous owner’s suite with private balcony and spa-like bath with soaking tub and over-sized shower. All bedrooms and laundry room upstairs for privacy. Find your private retreat for relaxing either on the large patio upstairs or grilling out on the fully-fenced yard with extended covered patio, this home is ideal for families and entertaining! Near Walnut Creek Trail and across Loyola from Colony Park, a new 100 acre district park with great amenities, trails and Downtown views.

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

Neighborhood: Meadows at Trinity Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $83k378k

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

Neighborhood: Meadows at Trinity Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600170018001900Rent in $6381966

* 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
Oak Meadows Elementary School Primary Regular 589 35 3
Decker Middle School Middle Regular 912 54 3
Manor New Technology High School High Regular 385 30 8

Oak Meadows Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 35
3
GreatSchools Rating

Decker Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
3
GreatSchools Rating

Manor New Technology High School

  • Education Level: High
  • # of students: 385
  • # of teachers: 30
8
GreatSchools Rating
 

$512,640$626,560$569,600

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$1,978
Property Tax -$1,120
Property Insurance -$170
HOA -$18
Property Management Fees -$99
CASH FLOW
-$365

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.

$569,600

PROJECTED PRICE

$3,020

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,694

INVESTMENT

$156,694

Down Payment
$142,400
Rehab Estimate
$5,750
Closing Costs
$8,544

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,978

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,400
Loan Amount $427,200
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $3,019

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$3,0204$3,1005$3,300
$3,300
RENT COMPS ANALYSIS
  • 5912 Florencia Lane Austin, TX 3
    • 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.19
    •  
  • 5825 Pinon Vista Drive Austin, TX 1
    • 3 beds 2 baths ∙ 2,413 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,413 Sqft ∙ Built 2015
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.16
    •  
  • 6213 Seville Drive Austin, TX 2
    • 3 beds 3 baths ∙ 2,572 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,572 Sqft ∙ Built 2015
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.09
    •  
  • 6041 Seville Drive Austin, TX 4
    • 3 beds 3 baths ∙ 2,475 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,475 Sqft ∙ Built 2016
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.25
    •  
  • 6117 Seville Drive Austin, TX 5
    • 3 beds 3 baths ∙ 2,603 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,603 Sqft ∙ Built 2016
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.27
    •  
PROPERTY LISTING DETAILS
Morgan Pool
Spyglass Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8179843
Last Updated: 02/27/2021
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