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8216 Alum Rock Drive Austin, TX 78747

3 Beds 3 Baths 1,452 sqft Built 2002

$280,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $192.84
  • 5 Days on Market
  • MLS # : 1526427
  • Updated Date : 03/20/2021 at 17:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,452 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realagent

Listing Agent's Description

Great opportunity to own or invest in Southeast Austin. Situated on a spacious corner lot overlooking a green space with alley garage access. Open floor plan with tiled common areas. Owner's Suite with full bath and walk-in closet. Downstairs Powder Bath for guests. Large yard for outdoor gatherings. Add a little TLC and make this your first time home or ready it for new tenants. Convenient to all that South Austin has to offer. Easy access major commuting routes and ABIA.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Springfield at Thaxton Road

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $125k378k

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

Neighborhood: Springfield at Thaxton Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8911966

* 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
Palm Elementary School Primary Regular 516 37 5
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Palm Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 37
5
GreatSchools Rating

Paredes Middle School

  • Education Level: Middle
  • # of students: 1,032
  • # of teachers: 69
4
GreatSchools Rating

Akins High School

  • Education Level: High
  • # of students: 2,667
  • # of teachers: 155
4
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$973
Property Tax -$551
Property Insurance -$109
HOA -$33
Property Management Fees -$99
CASH FLOW
-$193

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.

$280,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.5%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5704$1,6505$1,775
$1,775
RENT COMPS ANALYSIS
  • 8216 Alum Rock Drive Austin, TX 3
    • 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.08
    •  
  • 6905 Doyal Dr Austin, TX 1
    • 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2003
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
  • 6812 Felipe Drive Austin, TX 2
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 2002
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.17
    •  
  • 7132 Walkup Lane Austin, TX 4
    • 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2003
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.16
    •  
  • 6708 Sabrina Drive Austin, TX 5
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2002
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.12
    •  
PROPERTY LISTING DETAILS
Yazmin Perez
Realagent
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1526427
Last Updated: 03/20/2021
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