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

932 Medina Way Leander, TX 78641

4 Beds 4 Baths 2,920 sqft Built 2020

INVESTimate

$360,556

List Price

$2,300

$2,070 - $2,530

Rent Est.

$382,658  ( +6.13%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $123.48
  • 9 Days on Market
  • MLS # : 6504111
  • Updated Date : 08/24/2020 at 08:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,920 sqft
  • Baths : 3 full , 1 half
Listing Agent

Legacy Austin Realty

Listing Agent's Description

Due to Covid-19 all home showings are by appointment only. Grand home with vaulted entry & office. Large island open to dining/family. Separate shower/garden tub. Massive master closet leads to utility. 3 beds+2 baths+game up. Covered patio. Award winning LeanderISD. Glenn HS. Larkspur Elementary in neighborhood. Walk to pool, splash pad, fitness center, playscape, trails, & San Gabriel River access. Milestone Community Builders.

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k300k

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

Zip Code: 78641

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9371765

* 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
Bill Burden Elementary School Primary Regular 674 47 7
Liberty Hill Junior High School Middle Regular 501 34 8
Liberty Hill High School High Regular 1,015 63 6

Bill Burden Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 47
7
GreatSchools Rating

Liberty Hill Junior High School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 34
8
GreatSchools Rating

Liberty Hill High School

  • Education Level: High
  • # of students: 1,015
  • # of teachers: 63
6
GreatSchools Rating
 

$324,500$396,612$360,556

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,330
Property Tax -$874
Property Insurance -$191
HOA -$60
Property Management Fees -$184
CASH FLOW
-$340

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$360,556

PROJECTED PRICE

$2,300

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.13%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,547

INVESTMENT

$97,547

Down Payment
$90,139
Rehab Estimate
$2,000
Closing Costs
$5,408

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,330

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,139
Loan Amount $270,417
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,314

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,199
1$2,1992$2,2503$2,3004$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 932 Medina Way Leander, 3
    • 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 700 Mallow Rd Leander, 1
    • 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 2020
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.77
    •  
  • 2300 Ringstaff Rd Leander, 2
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 2019
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.87
    •  
  • 505 Merlin Ln Leander, 4
    • 5 beds 4 baths ∙ 2,957 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,957 Sqft ∙ Built 2018
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.79
    •  
  • 620 Judge Fisk Dr Leander, 5
    • 5 beds 3 baths ∙ 3,258 Sqft ∙ Built 2018 5 beds 3 baths ∙ 3,258 Sqft ∙ Built 2018
    property image
    LEASED 03/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.74
    •  
PROPERTY LISTING DETAILS
Autumn Lapaglia
1.512.468.0241
Legacy Austin Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6504111
Last Updated: 08/24/2020
BESbswy