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629 Schefer Street Leander, TX 78641

3 Beds 2 Baths 1,639 sqft Built 2016

$299,995

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $183.04
  • 4 Days on Market
  • MLS # : 9532847
  • Updated Date : 02/26/2021 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,639 sqft
  • Baths : 2 full
Listing Agent

Team West Real Estate Llc

Listing Agent's Description

Wonderful stone & brick single-story home with great curb appeal! Lovely covered front porch. Open plan! Beautiful kitchen with granite counters, SS appliances, travertine tile backsplash & under cabinet lights. Master bath with double vanities, separate shower & garden tub. Large covered back patio with gas stub out for grilling. Perfect place to relax or entertain. Backs to partial greenspace. Full sprinklers. A Must See!!

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Plain Elementary School Primary Regular 850 55 5
Leander Middle School Middle Regular 862 63 6
Glenn High School High Unknown NA

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Leander Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 63
6
GreatSchools Rating

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$269,996$329,995$299,995

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,042
Property Tax -$694
Property Insurance -$119
HOA -$77
Property Management Fees -$99
CASH FLOW
-$241

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.

$299,995

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,249

INVESTMENT

$85,249

Down Payment
$74,999
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,999
Loan Amount $224,996
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$903

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7903$1,8154$1,900
$1,900
RENT COMPS ANALYSIS
  • 629 Schefer Street Leander, TX 2
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.09
    •  
  • 644 Schefer Street Leander, TX 1
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2016
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.08
    •  
  • 713 Schefer Street Leander, TX 3
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2016
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $1.09
    •  
  • 617 Carly Ann Lane Leander, TX 4
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2016
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.10
    •  
PROPERTY LISTING DETAILS
Candace Patterson
Team West Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9532847
Last Updated: 02/26/2021
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