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6611 Zequiel Drive Austin, TX 78744

3 Beds 2 Baths 1,506 sqft Built 1994

$250,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $166.00
  • 2 Days on Market
  • MLS # : 9771099
  • Updated Date : 11/28/2020 at 07:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,506 sqft
  • Baths : 2 full
Listing Agent

Stanberry Realtors

Listing Agent's Description

Home sweet home! Don't miss this beautifully updated, immaculate one story gem in Springfield. Lovely shade trees and an ample front yard lead you toward a welcoming entryway. Modern open floor plan, a bright sunny kitchen with granite- like countertops, stainless steel appliances, substantial storage and cherry wood laminate flooring. Kitchen looks out over your privately fenced backyard and patio for relaxing and entertaining. Relish in the updated master bath with walk -in shower, dual vanity, walk -in closet, new light fixtures throughout and ceiling fans in each bedroom, living room and kitchen. 2 car garage with plenty of street parking. Close to South Park Meadows, airport, and downtown. This a great opportunity! Don't miss out!

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: Springfield at Thaxton Road

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $125k378k

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

Neighborhood: Springfield at Thaxton Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8911966

* 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
Palm Elementary School Primary Regular 516 37 5
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Palm Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 37
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$922
Property Tax -$492
Property Insurance -$112
HOA -$30
Property Management Fees -$133
CASH FLOW
-$29

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.

$250,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6253$1,6604$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 6611 Zequiel Drive Austin, TX 3
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.10
    •  
  • 6721 Marble Creek Loop Austin, TX 1
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2002
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.10
    •  
  • 6410 Sailing Breeze Trail Austin, TX 2
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1994
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.09
    •  
  • 6713 Ranchito Dr Austin, TX 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2019
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 7517 Groundhog Way Austin, TX 5
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2018
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
PROPERTY LISTING DETAILS
Patricia Vonne
1.512.461.6641
Stanberry Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9771099
Last Updated: 11/28/2020
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