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8605 Winterstein Drive Austin, TX 78745

4 Beds 3 Baths 2,358 sqft Built 2005

$439,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $186.56
  • 1 Days on Market
  • MLS # : 4741469
  • Updated Date : 07/13/2021 at 05:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,358 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tribe Realty Austin

Listing Agent's Description

South Austin at your door...Whether you are in the mood for local Coffee, Craft Cocktails, Beer Gardens, Live Music, Foodie Restaurants, Cafes, Food Trucks or a Workout--The options are ABUNDANT! This completely refreshed home is move in ready, with new interior paint andSouth Austin at your door...Whether you are in the mood for local Coffee, Craft Cocktails, Beer Gardens, Live Music, Foodie Restaurants, Cafes, Food Trucks or a Workout--The options are ABUNDANT! This completely refreshed home is move in ready, with new interior paint and carpet. Beautiful contemporary plank flooring. Even the 2 car garage is finished out with sheetrock and baseboards. Spacious floor plan lends itself to finding your quiet space and plenty of room for work/school at home. Huge up stairs Game Room/Play Area AND there is a Living Room as well. Plenty of Closets and Storage to keep you organized (or at least hide your stuff so you APPEAR to be organized!). RUN, Don’t Walk to see this South Austin Cottage nestled into the most charming neighborhood with Walking Trails, Parks and Playgrounds and a friendly community spirit

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grand Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $135k410k

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

Neighborhood: Grand Oaks

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
Cunningham Elementary School Primary Regular 405 34 4
Covington Middle School Middle Regular 634 51 5
Crockett High School High Regular 1,498 105 4

Cunningham Elementary School

  • Education Level: Primary
  • # of students: 405
  • # of teachers: 34
4
GreatSchools Rating

Covington Middle School

  • Education Level: Middle
  • # of students: 634
  • # of teachers: 51
5
GreatSchools Rating

Crockett High School

  • Education Level: High
  • # of students: 1,498
  • # of teachers: 105
4
GreatSchools Rating
 

$395,910$483,890$439,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,528
Property Tax -$865
Property Insurance -$160
HOA -$31
Property Management Fees -$99
CASH FLOW
-$333

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.

$439,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.4%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,346

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2803$2,3504$2,3755$2,450
$2,450
RENT COMPS ANALYSIS
  • 8605 Winterstein Drive Austin, TX 3
    • 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 1900 Quivira Road Austin, TX 1
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2001
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.93
    •  
  • 2304 Keepsake Drive Austin, TX 2
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2004
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.94
    •  
  • 8611 Brock Circle Austin, TX 4
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2005
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.10
    •  
  • 8303 Minnesota Lane Austin, TX 5
    • 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 2004
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
PROPERTY LISTING DETAILS
Torquil Creevy
Tribe Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4741469
Last Updated: 07/13/2021
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