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8315 Timber Trail Lago Vista, TX 78645

3 Beds 2 Baths 1,295 sqft Built 2002

$250,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $193.05
  • 3 Days on Market
  • MLS # : 5612371
  • Updated Date : 03/06/2021 at 05:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,295 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

Lowest priced single family home in all of Lago Vista, in fact, in all of zip code 78645!! Next lowest price on March 5th was $325,000! Needs a little tender loving care but nothing too difficult - some painting, a little fence repair, etc. No stairs for easy living! Lives larger than its' 1,295 sf. Two closets in primary bedroom, and the primary bath has both a jetted tub and separate shower. Fans in great room, all bedrooms and primary bath. This one won't last, and contracts will be reviewed if received by Mon, Mar 8th at 4:00.

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: Bar-K Ranches

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $93k410k

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

Neighborhood: Bar-K Ranches

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8902157

* 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
Lago Vista Elementary School Primary Regular 526 34 5
Lago Vista Middle School Middle Regular 398 26 6
Lago Vista High School High Regular 442 29 7

Lago Vista Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 34
5
GreatSchools Rating

Lago Vista Middle School

  • Education Level: Middle
  • # of students: 398
  • # of teachers: 26
6
GreatSchools Rating

Lago Vista High School

  • Education Level: High
  • # of students: 442
  • # of teachers: 29
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$868
Property Tax -$584
Property Insurance -$100
HOA -$13
Property Management Fees -$99
CASH FLOW
-$154

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.

$250,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.9%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,8003$1,850
$1,850
RENT COMPS ANALYSIS
  • 8315 Timber Trail Lago Vista, TX 1
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.17
    •  
  • 20704 Adobe Trl Lago Vista, TX 2
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2001
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.26
    •  
  • 7402 Spanish Oak Drive Lago Vista, TX 3
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 2018
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.19
    •  
PROPERTY LISTING DETAILS
Patsy Aird
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5612371
Last Updated: 03/06/2021
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