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7432 Spring Ray Drive Del Valle, TX 78617

4 Beds 3 Baths 1,950 sqft Built 2020

$288,390

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $147.89
  • 2 Days on Market
  • MLS # : 3046984
  • Updated Date : 11/02/2020 at 22:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,950 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ctx Listings, Llc

Listing Agent's Description

Ridley A Plan. Estimated Completion February 2021. Home backs to greenbelt, includes stainless steel appliances, refrigerator, blinds, garage door openers, full sod/sprinklers.

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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: 78617

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k298k

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

Zip Code: 78617

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7761723

* 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
Popham Elementary School Primary Regular 793 50 4
Del Valle Middle School Middle Regular 928 63 4
Del Valle Middle School High Regular 928 63 4

Popham Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 50
4
GreatSchools Rating

Del Valle Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 63
4
GreatSchools Rating

Del Valle Middle School

  • Education Level: High
  • # of students: 928
  • # of teachers: 63
4
GreatSchools Rating
 

$259,551$317,229$288,390

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,064
Property Tax -$575
Property Insurance -$137
HOA -$50
Property Management Fees -$140
CASH FLOW
-$216

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$288,390

PROJECTED PRICE

$1,750

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.13%
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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,423

INVESTMENT

$78,423

Down Payment
$72,098
Rehab Estimate
$2,000
Closing Costs
$4,326

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,064

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,098
Loan Amount $216,293
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,566

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,745

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8004$1,8005$1,875
$1,875
RENT COMPS ANALYSIS
  • 7432 Spring Ray Drive Del Valle, TX 1
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 15408 Summer Ray Drive Del Valle, TX 2
    • 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2019
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 15416 Jazzberry Way Del Valle, TX 3
    • 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2019
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 15424 Jazzberry Way Del Valle, TX 4
    • 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2019
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 15401 Solstice Cove Del Valle, TX 5
    • 4 beds 3 baths ∙ 2,005 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,005 Sqft ∙ Built 2020
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.94
    •  
PROPERTY LISTING DETAILS
Matthew Ikard
1.512.666.9661
Ctx Listings, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3046984
Last Updated: 11/02/2020
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