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701 New Country Road Kyle, TX 78640

3 Beds 2 Baths 1,499 sqft Built 2005

$225,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $150.10
  • 4 Days on Market
  • MLS # : 1250831
  • Updated Date : 12/11/2020 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,499 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Single-story home boasts updated flooring, updated kitchen with granite countertops and recent roof. Open floor plan leaves no wasted space! Eat-in kitchen with breakfast bar and bonus kitchen island. Tons of windows allows all the natural light in. Master retreat offers en-suite bath with double vanity and jumbo shower. Step out back to enjoy the stylish added railing and deck - creating a perfect atmosphere for your morning coffee or tea. Community is located just minutes from major retail, restaurants & hospitals. Don't miss this one!

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $124k298k

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

Zip Code: 78640

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7011723

* 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
Tobias Elementary School Primary Regular 715 45 4
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Tobias Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 45
4
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$830
Property Tax -$518
Property Insurance -$111
HOA -$31
Property Management Fees -$99
CASH FLOW
-$100

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.

$225,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,387

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,492

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4453$1,4504$1,490
$1,490
RENT COMPS ANALYSIS
  • 701 New Country Road Kyle, TX 4
    • 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,499 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.99
    •  
  • 135 Myrtle Street Kyle, TX 1
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 2007
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.05
    •  
  • 280 Beech Dr Kyle, TX 2
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2005
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.96
    •  
  • 530 New Country Rd Kyle, TX 3
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 2010
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
PROPERTY LISTING DETAILS
Adrianne Craft
1.512.300.7647
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1250831
Last Updated: 12/11/2020
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