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611 Barbara Way Bastrop, TX 78602

4 Beds 3 Baths 2,396 sqft Built 1999

$247,500

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $103.30
  • 2 Days on Market
  • MLS # : 8283183
  • Updated Date : 12/13/2020 at 05:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,396 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Lovely home in quiet Riverside Grove neighborhood in beautiful Bastrop. 4 bed, 2.5 bath on spacious lot. Just minutes to HEB, Walmart, shopping, dining, restaurants & outdoor activities such as Fisherman's Park. Walking distance to Bastrop Intermediate School. Short distance to downtown and Main St. Spacious master includes dual sinks, soaking tub plus separate shower, and large his and hers closets. Great for a primary residence or as an investment opportunity.

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: Riverside Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $117k298k

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

Neighborhood: Riverside Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7131723

* 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
Mina Elementary School Primary Regular 592 39 5
Bastrop Middle School Middle Regular 707 48 4
Bastrop High School High Regular 1,253 87 4

Mina Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
5
GreatSchools Rating

Bastrop Middle School

  • Education Level: Middle
  • # of students: 707
  • # of teachers: 48
4
GreatSchools Rating

Bastrop High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 87
4
GreatSchools Rating
 

$222,750$272,250$247,500

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$913
Property Tax -$421
Property Insurance -$162
HOA -$7
Property Management Fees -$99
CASH FLOW
$68

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.

$247,500

PROJECTED PRICE

$1,670

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,338

INVESTMENT

$71,338

Down Payment
$61,875
Rehab Estimate
$5,750
Closing Costs
$3,713

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$913

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,875
Loan Amount $185,625
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$19,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6504$1,6705$1,750
$1,750
RENT COMPS ANALYSIS
  • 611 Barbara Way Bastrop, TX 4
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.70
    •  
  • 613 Carole Cv Bastrop, TX 1
    • 3 beds 3 baths ∙ 2,293 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,293 Sqft ∙ Built 2003
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.65
    •  
  • 618 Elizabeth Lane Bastrop, TX 2
    • 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,380 Sqft ∙ Built 2001
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.65
    •  
  • 315 Nicole Way Bastrop, TX 3
    • 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 2001
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 302 Patton Lane Bastrop, TX 5
    • 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2002
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
Tiffany Anderson
1.512.710.5170
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8283183
Last Updated: 12/13/2020
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