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6846 Thistle Hill Way Austin, TX 78754

5 Beds 3 Baths 2,643 sqft Built 2001

$300,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $113.51
  • 4 Days on Market
  • MLS # : 7340495
  • Updated Date : 11/13/2020 at 20:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,643 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Fantastic opportunity to buy a ready-to-update home in Harris Branch on the greenbelt! Exceptional price per sq. ft. for the Austin area. Updated flooring in main living area. The huge family room boasts a 2-story ceiling that opens to the second floor to create a bright and welcoming atmosphere. Living room windows have 3M thermal file for energy efficiency. The spacious back patio is great for entertaining and admiring the private greenbelt. Lots of natural light, oversized master suite, lots of storage space, well-kept yard, and large covered patio area are great for BBQing. <15 minutes to DT Austin fun & work, <10 miles to UT Austin, <20 min to COTA and the coming soon Tesla factory.

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: Harris Branch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $126k378k

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

Neighborhood: Harris Branch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8151966

* 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
Bluebonnet Trail Elementary School Primary Regular 496 29 5
Decker Middle School Middle Regular 912 54 3
Manor New Technology High School High Regular 385 30 8

Bluebonnet Trail Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 29
5
GreatSchools Rating

Decker Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 54
3
GreatSchools Rating

Manor New Technology High School

  • Education Level: High
  • # of students: 385
  • # of teachers: 30
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,107
Property Tax -$590
Property Insurance -$176
HOA -$43
Property Management Fees -$156
CASH FLOW
-$121

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.

$300,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,989

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9504$2,0005$2,265
$2,265
RENT COMPS ANALYSIS
  • 6846 Thistle Hill Way Austin, TX 3
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 6605 Hartlage Drive Austin, TX 1
    • 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2019
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.71
    •  
  • 11705 Monterosso Drive Austin, TX 2
    • 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2019
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 6600 Kirkwynd Drive Austin, TX 4
    • 3 beds 3 baths ∙ 2,678 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,678 Sqft ∙ Built 2012
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 6721 Hartlage Street Austin, TX 5
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2020
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,265
    • $0.80
    •  
PROPERTY LISTING DETAILS
Crystal Weigle
1.678.516.4526
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7340495
Last Updated: 11/13/2020
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