Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Springfield at Thaxton Road
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,950
LOAN DETAILS
$973
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $70,000 |
| Loan Amount | $210,000 |
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
-
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
Realagent
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 1526427
Last Updated: 03/20/2021
