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6701 Piedras Blanco Drive Austin, TX 78747

3 Beds 2 Baths 1,433 sqft Built 2002

$249,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $174.39
  • 3 Days on Market
  • MLS # : 8248061
  • Updated Date : 11/07/2020 at 19:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,433 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Single story home in highly sought after South Austin community, Springfield. Features 3 bedrooms, 2 baths with wide open floor plan, beautiful vinyl plank throughout, high ceilings & loads of windows allowing for abundant natural light. Kitchen with center island open to family room with granite countertops, travertine backsplash and ample cabinet space. Master suite includes full bath with granite countertops and walk in shower. Enjoy entertaining in large private fenced backyard with oversized wood deck. Walk to community pool and park.Minutes to Mickinney Falls, downtown, shopping & dining.

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

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$922
Property Tax -$491
Property Insurance -$108
HOA -$25
Property Management Fees -$114
CASH FLOW
-$240

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.

$249,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.57%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% 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 $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,480

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,5503$1,5754$1,600
$1,600
RENT COMPS ANALYSIS
  • 6701 Piedras Blanco Drive Austin, TX 1
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.99
    •  
  • 6313 Ken Caryl Drive Austin, TX 2
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2006
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 6721 Marble Creek Loop Austin, TX 3
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2002
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.10
    •  
  • 8002 Marble Ridge Dr Austin, TX 4
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1994
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
PROPERTY LISTING DETAILS
Ryanne Vaughan
1.512.270.9757
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8248061
Last Updated: 11/07/2020
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