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600 Green Meadow Drive Manchaca, TX 78652

3 Beds 2 Baths 1,369 sqft Built 1983

$312,500

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $228.27
  • 6 Days on Market
  • MLS # : 5144112
  • Updated Date : 11/02/2020 at 17:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,369 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Best and Final offer Deadline -10/2/2020 at 5pm Masks are required at all times during showings. 2 hour notice - Please Contact Listing Agent... This west-of-I35 corner lot on a lower-traffic street makes this 3 bedroom, 2 bathroom, 2 car garage on 0.574 of an acre highly desirable. It is located in the highly sought after Onion Creek Meadows Neighborhood, a predominantly owner occupied community. Convenient easy access to I-35, Southpark Meadows & SH-45 /Mopac and FM 1626. The established trees create a beautiful shaded canopy over much of the property. No HOA and low tax rate of 1.8%. Possible Leaseback needed. Property is Sold AS IS, No repairs from sellers- Please see Seller's Disclosure for more details. Tremendous opportunity to renovate.

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: Onion Creek Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $126k333k

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

Neighborhood: Onion Creek Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371908

* 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
Menchaca Elementary School Primary Regular 717 47 5
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Menchaca Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 47
5
GreatSchools Rating

Paredes Middle School

  • Education Level: Middle
  • # of students: 1,032
  • # of teachers: 69
4
GreatSchools Rating

Akins High School

  • Education Level: High
  • # of students: 2,667
  • # of teachers: 155
4
GreatSchools Rating
 

$281,250$343,750$312,500

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,153
Property Tax -$516
Property Insurance -$104
Property Management Fees -$123
CASH FLOW
-$356

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.

$312,500

PROJECTED PRICE

$1,540

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.6%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$88,563

INVESTMENT

$88,563

Down Payment
$78,125
Rehab Estimate
$5,750
Closing Costs
$4,688

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,125
Loan Amount $234,375
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,550

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,6503$1,7004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 600 Green Meadow Drive Manchaca, TX 1
    • 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,369 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.12
    •  
  • 124 Hillhouse Ln Manchaca, TX 2
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 2009
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.15
    •  
  • 13107 Shawnee Drive Manchaca, TX 3
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1978
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 805 Allende Bend Austin, TX 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2015
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.16
    •  
  • 409 Anacua Loop Manchaca, TX 5
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2015
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kenneth Williams
1.512.554.7683
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5144112
Last Updated: 11/02/2020
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