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639 Dark Horse Lane Buda, TX 78610

4 Beds 2 Baths 1,820 sqft Built 2007

$244,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $134.56
  • 11 Days on Market
  • MLS # : 2303336
  • Updated Date : 10/27/2020 at 20:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

Beautiful home located in Shadow Creek community, conveniently located minutes from shopping centers and IH-35. Great open floor plan, perfect for everyday living and entertaining friends & family. Home features open spacious dining room, kitchen granite counter top, gorgeous backsplash, breakfast bar with pendant lighting over looking into living room. Plenty of cabinet and counter space through out. Generous windows for natural lighting, large living room with high ceilings, and stunning fireplace. Spacious master bedroom and bathroom has separate shower and garden tub with dual vanity sink, walk in closet. Large back yard with covered patio, and much more!

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: 78610

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $126k298k

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

Zip Code: 78610

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9371840

* 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
Ralph Pfluger Elementary School Primary Regular 655 40 8
Mccormick Middle School Middle Regular NA
Hays High School High Regular 2,409 121 6

Ralph Pfluger Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 40
8
GreatSchools Rating

Mccormick Middle School

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

Hays High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 121
6
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$904
Property Tax -$643
Property Insurance -$130
HOA -$33
Property Management Fees -$130
CASH FLOW
-$219

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.

$244,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$226

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6204$1,7755$1,900
$1,900
RENT COMPS ANALYSIS
  • 639 Dark Horse Lane Buda, TX 3
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.89
    •  
  • 232 Brandons Way Buda, TX 1
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 2006
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.94
    •  
  • 627 Dark Horse Ln Buda, TX 2
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 208 Wapiti Road Buda, TX 4
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2017
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.88
    •  
  • 845 Dark Horse Lane Buda, TX 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
PROPERTY LISTING DETAILS
Rocio Enriquez
1.512.983.3651
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2303336
Last Updated: 10/27/2020
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