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643 Highway 71 E Bastrop, TX 78602

3 Beds 2 Baths 1,594 sqft Built 2013

$265,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $166.25
  • 5 Days on Market
  • MLS # : 4312135
  • Updated Date : 01/09/2021 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,594 sqft
  • Baths : 2 full
Listing Agent

Re/max Bastrop Area

Listing Agent's Description

LOCATION*LOCATION*LOCATION! Many possibilities and use for this property! Immediate access right off Hwy. 71. Newly renovated and remodeled 3/2. Entire property perimeter is fenced and gated. City utilities and sewer connections. Close to city amenities with country vibe. *Tahitian Village is not a mandatory home owner's association. However, the water supplier BCWID #2 (Bastrop County Water Improvement District) does access a mandatory $204 annually per lot to all property owner's for road maintenance fees.

SEE MORE

MARKET HIGHLIGHTS

  • #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

Neighborhood: Pine Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $106k346k

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

Neighborhood: Pine Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7131960

* 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
Emile Elementary School Primary Regular 570 38 4
Bastrop Middle School Middle Regular 707 48 4
Bastrop High School High Regular 1,253 87 4

Emile Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 38
4
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$920
Property Tax -$451
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
$13

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$14,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,6004$1,750
$1,750
RENT COMPS ANALYSIS
  • 643 Highway 71 E Bastrop, TX 3
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 184 Mauna Kea Ln Bastrop, TX 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2015
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 135 Mokalau Drive Bastrop, TX 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 2013
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 415 Kaanapali Lane Bastrop, TX 4
    • 4 beds 2 baths ∙ 1,743 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,743 Sqft ∙ Built 2015
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Debra Wolverton
1.512.773.6043
Re/max Bastrop Area
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4312135
Last Updated: 01/09/2021
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