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6809 Crestone Road Austin, TX 78744

4 Beds 2 Baths 1,305 sqft Built 2013

$319,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $244.44
  • 3 Days on Market
  • MLS # : 2222738
  • Updated Date : 01/09/2021 at 01:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,305 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Tx Realty

Listing Agent's Description

Stunning one level updated Colorado Crossing home situated perfectly on an cul-de-sac lot showcasing a backyard oasis backing to green space and easy access to Downtown ATX, Tesla, McKinney Falls and community pool, schools, hike/bike trails. Google Fiber! Low tax rate! Interior features bright open living spaces, updated wood flooring, quartz counter tops, updated lighting, faucets, hardware and recent paint, spacious kitchen and a super sweet master retreat with resort style bath. Bonus!..Rare 4th bedroom perfect for guests, home-schoolers, Zoom office, etc All this plus outstanding schools, nearby dining and shopping. Truly a rare gem

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: Southeast Austin

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $96k378k

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

Neighborhood: Southeast Austin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7761966

* 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
Smith Elementary School Primary Regular 830 52 5
John P Ojeda Middle School Middle Regular 963 78 2
Del Valle High School High Regular 2,851 171 3

Smith Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 52
5
GreatSchools Rating

John P Ojeda Middle School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 78
2
GreatSchools Rating

Del Valle High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 171
3
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,108
Property Tax -$627
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
-$235

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.

$319,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,648

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7003$1,7954$1,850
$1,850
RENT COMPS ANALYSIS
  • 6809 Crestone Road Austin, TX 2
    • 4 beds 2 baths ∙ 1,305 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,305 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.30
    •  
  • 7009 Outfitter Drive Austin, TX 1
    • 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,220 Sqft ∙ Built 2011
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.27
    •  
  • 3809 Black Granite Dr Austin, TX 3
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2017
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.23
    •  
  • 4009 Ignacio Austin, TX 4
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 2019
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.28
    •  
PROPERTY LISTING DETAILS
Kent Redding
1.512.797.5737
Berkshire Hathaway Tx Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2222738
Last Updated: 01/09/2021
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