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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $183.50
- 3 Days on Market
- MLS # : 6824730
- Updated Date : 12/19/2020 at 16:35
CONSTRUCTION
- Beds : 3
- Floor Size : 1,297 sqft
- Baths : 2 full
Listing Agent
Watters International Realty
Listing Agent's Description
This single story home offers an open living, dining and kitchen area and split bedroom floor plan. The cook's kitchen features top of the line appliances and built-in ovens. Owner's suite with full bath and walk-in closet. Secondary bedrooms share a full bath. The spacious yard has lots of mature trees, lovely landscaping and the side yard has a crooked path, perfect for meditation and relaxing. Just minutes from Lakeline area and no HOA.
SEE MORE
- #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)
- 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)
PRICE & RENT TRENDS
Zip Code: 78641
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 78641
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,670 |
| EXPENSES | Loan Payment | -$878 |
| Property Tax | -$550 | |
| Property Insurance | -$100 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$43
|
||
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.
$238,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.72% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$68,820
LOAN DETAILS
$878
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $59,500 |
| Loan Amount | $178,500 |
5.33
YEARS SAVED
$15,645
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 -
$1.29
LIST RENT PER SQFT
-
$1,505
COMP ESTIMATED VALUE -
$1.16
COMP AVG. RENT PER SQFT
Comps Range
-
612 Sunny Brook Drive Leander, TX 4
- 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 1995
![property image]()
- Rent
- Rent Per SQFT
- $1,670
- $1.29
-
813 Deercreek Ln Leander, TX 1
- 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1999
![property image]()
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,425
- $1.18
-
602 Clear Spring Ln Leander, TX 2
- 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1995
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,500
- $1.17
-
1704 Southcreek Drive Leander, TX 3
- 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1995
![property image]()
LEASED 06/27/20- Rent
- Rent Per SQFT
- $1,550
- $1.11
PROPERTY LISTING DETAILS
1.512.646.0038
Watters International Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 6824730
Last Updated: 12/19/2020
