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621 Kingfisher Creek Drive Austin, TX 78748

4 Beds 3 Baths 2,248 sqft Built 1993

$394,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $175.67
  • 3 Days on Market
  • MLS # : 3060749
  • Updated Date : 03/21/2021 at 00:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,248 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coffman Real Estate

Listing Agent's Description

Southwest Austin Delight! This stately home captures you from the moment you pull up to the driveway. Huge trees and lush landscaping make this one of the best lots in the neighborhood. Inside you'll find a home full of natural light and an airy open concept featuring two living spaces, two dining areas, an updated modern kitchen with quartz tops and tile backsplash. Fall in love with the oversized master retreat with separate tub and shower! Entertaining comes easy with the large covered back patio! Walk to Mary Moore Searight Park to hike, bike or play disc golf. Close to Southpark Meadows, 'Sochaca' bar/restaurant district and so much more. DON'T MISS THIS ONE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Southwest Austin

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $128k410k

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

Neighborhood: Southwest Austin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9882157

* 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
Casey Elementary School Primary Regular 665 44 5
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Casey Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 44
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
 

$355,410$434,390$394,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,372
Property Tax -$777
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
-$361

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.

$394,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,399

INVESTMENT

$110,399

Down Payment
$98,725
Rehab Estimate
$5,750
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$943

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,023

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,0503$2,0504$2,265
$2,265
RENT COMPS ANALYSIS
  • 621 Kingfisher Creek Drive Austin, TX 1
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.91
    •  
  • 702 Hidatas Cove Austin, TX 2
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 1993
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 11011 Watchful Fox Drive Austin, TX 3
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 1991
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.84
    •  
  • 10933 Sea Hero Austin, TX 4
    • 3 beds 2 baths ∙ 2,269 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,269 Sqft ∙ Built 2003
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,265
    • $1.00
    •  
PROPERTY LISTING DETAILS
Candace Fernandez
Coffman Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3060749
Last Updated: 03/21/2021
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