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604 Red Tails Drive Austin, TX 78725

3 Beds 3 Baths 1,795 sqft Built 2017

$254,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $142.01
  • 3 Days on Market
  • MLS # : 2842882
  • Updated Date : 12/06/2020 at 00:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Austin

Listing Agent's Description

Spacious open floor plan with lots of natural light! High ceilings, large master bedroom on main level with en suite and huge Walk-in Closet. Open concept kitchen with Granite Counter Tops, breakfast area, breakfast bar, gas range/stove, extra-large double-door refrigerator, back splash, pantry, and more! Second floor with Game Room, 2 bedrooms and a Full Bathroom with tub. Very spacious, flat back yard with partial view of trees and no neighbors in the back for extra privacy! Refrigerator, washer, dryer, and water softener convey!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78725

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $106k378k

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

Zip Code: 78725

ZipNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7271966

* 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
Hornsby-dunlap Elementary School Primary Regular 646 43 3
Dailey Middle School Middle Regular 706 56 3
Del Valle High School High Regular 2,851 171 3

Hornsby-dunlap Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 43
3
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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$940
Property Tax -$501
Property Insurance -$128
HOA -$26
Property Management Fees -$99
CASH FLOW
-$135

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.

$254,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 9.9%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,5953$1,6004$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 604 Red Tails Drive Austin, TX 1
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.87
    •  
  • 712 Silver Wing Drive Austin, TX 2
    • 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2016
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 15108 Walcott Drive Austin, TX 3
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2015
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 809 Yabers Court Austin, TX 4
    • 4 beds 3 baths ∙ 1,758 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,758 Sqft ∙ Built 2014
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
  • 4513 Cleto Street Austin, TX 5
    • 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 2016
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Walter Marin
1.512.545.7001
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2842882
Last Updated: 12/06/2020
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