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712 North Creek Boulevard Leander, TX 78641

3 Beds 2 Baths 1,607 sqft Built 2002

$229,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $143.06
  • 4 Days on Market
  • MLS # : 7599224
  • Updated Date : 11/14/2020 at 00:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,607 sqft
  • Baths : 2 full
Listing Agent

Beverly Hamby Realty

Listing Agent's Description

What a great deal! This 3 bedroom 2 bath brick home with bonus room. Freshly painted, new carpe tand new AC &BHeat within last 2years is ready for move in. Living room has fireplace to warm you up while having popcorn and watching those family movies together. The bonus room is great for the get away you've always wanted. Great location near entertainment, restaurants and shopping. Don't miss this one. The garage was converted into the bonus room, but still has garage door and could easily be converted back. Don't miss this one. Vacant and easy to show.

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
Plain Elementary School Primary Regular 850 55 5
Leander Middle School Middle Regular 862 63 6
Glenn High School High Unknown NA

Plain Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 55
5
GreatSchools Rating

Leander Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 63
6
GreatSchools Rating

Glenn High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$848
Property Tax -$557
Property Insurance -$118
Property Management Fees -$136
CASH FLOW
$41

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.

$229,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.74%

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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,834

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
  • $1.06

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,7004$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 712 North Creek Boulevard Leander, TX 3
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 816 North Creek Dr Leander, TX 1
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 2002
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 804 North Creek Blvd Leander, TX 2
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 2002
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.09
    •  
  • 625 Schefer St Leander, TX 4
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2017
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 528 Heinatz Flat Lane Leander, TX 5
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2017
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.06
    •  
PROPERTY LISTING DETAILS
Beverly Hamby
1.254.721.1784
Beverly Hamby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7599224
Last Updated: 11/14/2020
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