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PROPERTY INFO
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
- #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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southeast Austin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,285
LOAN DETAILS
$1,108
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $79,750 |
| Loan Amount | $239,250 |
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
-
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
1.512.797.5737
Berkshire Hathaway Tx Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 2222738
Last Updated: 01/09/2021
