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8303 Racine Trail Austin, TX 78717

4 Beds 3 Baths 1,766 sqft Built 1985

$325,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $184.03
  • 3 Days on Market
  • MLS # : 1207635
  • Updated Date : 01/23/2021 at 17:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,766 sqft
  • Baths : 2 full , 1 half
Listing Agent

Austin Summit Group

Listing Agent's Description

Fixer-upper in the highly popular Woods of Brushy Creek. Convenient to major highways, minutes from the Apple campus. Selling as-is, no survey available.

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: Woods of Brushy Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Woods of Brushy Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Great Oaks Elementary School Primary Regular 722 47 10
Cedar Valley Middle School Middle Regular 1,314 82 10
Round Rock High School High Regular 2,972 195 8

Great Oaks Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 47
10
GreatSchools Rating

Cedar Valley Middle School

  • Education Level: Middle
  • # of students: 1,314
  • # of teachers: 82
10
GreatSchools Rating

Round Rock High School

  • Education Level: High
  • # of students: 2,972
  • # of teachers: 195
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,129
Property Tax -$646
Property Insurance -$126
HOA -$10
Property Management Fees -$99
CASH FLOW
-$190

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.

$325,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,801

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8204$1,895
$1,895
RENT COMPS ANALYSIS
  • 8303 Racine Trail Austin, TX 3
    • 4 beds 3 baths ∙ 1,766 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,766 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $1.03
    •  
  • 15813 De Peer Ave Austin, TX 1
    • 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,727 Sqft ∙ Built 1985
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 15701 De Peer Ave Austin, TX 2
    • 3 beds 3 baths ∙ 1,826 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,826 Sqft ∙ Built 1986
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 8301 Racine Trail Austin, TX 4
    • 4 beds 3 baths ∙ 1,766 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,766 Sqft ∙ Built 1985
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
PROPERTY LISTING DETAILS
Bronwyn Obrien
1.512.350.8309
Austin Summit Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1207635
Last Updated: 01/23/2021
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