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705 Birch Brook Drive Leander, TX 78641

4 Beds 3 Baths 2,292 sqft Built 1993

$254,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $110.82
  • 3 Days on Market
  • MLS # : 3431032
  • Updated Date : 11/14/2020 at 03:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,292 sqft
  • Baths : 3 full
Listing Agent

360 Properties, Llc

Listing Agent's Description

Four bedroom home centrally located in Leander with sprawling mature shade trees. Kitchen has Siltstone counter tops (comparable to granite), Pergo flooring on lower level and carpet in bedrooms. Large Master bedroom and bath with Jacuzzi tub, standup shower, dual vanities, and walk-in closet. Large covered patio in the back yard, storage shed and two car garage. Easy access to 183a or North Bell, 5 minutes to major shopping and restaurants.

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: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Pleasant Hill Elementary School Primary Regular 844 59 4
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Pleasant Hill Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 59
4
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$228,600$279,400$254,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$937
Property Tax -$588
Property Insurance -$156
HOA -$16
Property Management Fees -$134
CASH FLOW
-$160

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.

$254,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,060

INVESTMENT

$73,060

Down Payment
$63,500
Rehab Estimate
$5,750
Closing Costs
$3,810

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,500
Loan Amount $190,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,771

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7503$1,7954$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 705 Birch Brook Drive Leander, TX 1
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.73
    •  
  • 1115 Calistoga Drive Leander, TX 2
    • 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 2004
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 703 Thrush Dr Leander, TX 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 1121 Calla Lily Blvd Leander, TX 4
    • 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,448 Sqft ∙ Built 2014
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 928 Water Hyacinth Loop Leander, TX 5
    • 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 2013
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
PROPERTY LISTING DETAILS
Nicole Martin
1.512.740.8082
360 Properties, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3431032
Last Updated: 11/14/2020
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