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707 Atlantis Kyle, TX 78640

4 Beds 3 Baths 1,704 sqft Built 2008

$230,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $134.98
  • 5 Days on Market
  • MLS # : 1549034
  • Updated Date : 10/30/2020 at 11:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,704 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Beautiful move-in ready and very well maintained home in the highly popular Post Oak community. The bright open floor plan allows for tons of natural light and includes an updated kitchen, family room, and additional flex space--perfect for a home office, playroom, or second living area. 4 good size bedrooms offering excellent space, walk-in closets, and ample storage.  Updates include new kitchen cabinetry, quartz countertops, and stainless steel appliances.  The large private yard provides plenty of space to play and relax. Neighborhood amenities including Clubhouse, Pool/Hot Tub, Park & Playground. Close to shopping, restaurants, and downtown Kyle. Easy access to I35

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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$849
Property Tax -$529
Property Insurance -$123
HOA -$29
Property Management Fees -$127
CASH FLOW
-$68

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.

$230,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.69%

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$700k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5904$1,600
$1,600
RENT COMPS ANALYSIS
  • 707 Atlantis Kyle, TX 3
    • 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,704 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.93
    •  
  • 352 Langely Kyle, TX 1
    • 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,614 Sqft ∙ Built 2014
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 341 Verano Cir Kyle, TX 2
    • 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,641 Sqft ∙ Built 2011
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 123 Discovery Kyle, TX 4
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2004
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alexander Tapp
1.512.563.6240
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1549034
Last Updated: 10/30/2020
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