Market Conditions in Austin>Question Details

Nathan Nguyen, Home Buyer in Austin, TX

What are some good locations to focus on when looking to invest in a SFH as a rental property in Austin? Budget will need to be less than 175K.

Asked by Nathan Nguyen, Austin, TX Fri Sep 30, 2011

What is the market condition for renting out SFH? Is it in high demand? How's Cedar Park for rental property?

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Answers

15
Dear Nathan,
If your looking in Austin I recommend Maple Run, Sendera, Cherry Creek and Oak HIll. These areas are close enough to downtown to be very desireable and they are affordable $200K or less. I just sold a darling 3-2 in Maple Run for $169K. I have one for lease and in the first two weeks I have had two dozen calls about this property. These homes were built in the late 1970's to late 1980's and are only about 10-15 minutes to downtown Austin. Here is a link to whats for sale in Maple Run, Sendera, and Cherry Creek right now: http://actris.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1853…

Click in the main photo to see more pictures of the house and click on the blue arrow to move on to the next house in the report. If you want more information please give me a call. I would be happy to help you.

Sincerely,
Betina
1 vote Thank Flag Link Sun Feb 5, 2012
Hi, Nathan.
Many factors to consider - what neighborhoods do you like? How far are you willing to drive to manage a property? Are you seeking more appreciation or looking for cash flow (may mean the difference in investing in 78745 South Austin vs. CP, for example)?

I suggest you find a broker or agent with investment experience. Best place to start.

Good luck!

John Crowe, Broker
Crowe Homes/Keller Williams
1 vote Thank Flag Link Fri Sep 30, 2011
Dear Nathan,
Have you decided to move forward with your home search? There are many local Realtors that have provided answers of value. Were you able to decide on a particular neighborhood?
Sincerely,
Betina
0 votes Thank Flag Link Sun Feb 19, 2012
check out a title company and police reports for the area. I also suggest that if you live in Austin you buy close to your personal home. it is best to work in an area you are comfortable with. You may want to make these homes lease options homes. you can get more info on the from several web sites and YouTube. best wishes Brad Meyer
FBN Real Estate Consulting INC.
0 votes Thank Flag Link Fri Feb 17, 2012
Cedar Park (78613) was the zip code with the most activity in the USA last year. So I think its a safe bet rentals will do well in the area. You can get a lot more house for the money compared to Austin prices.
0 votes Thank Flag Link Tue Feb 14, 2012
You can't beat the Oklahoma City Metro area. Extremely low unemployment, low housing prices, a great place to live
0 votes Thank Flag Link Tue Feb 14, 2012
Nathan -

Lease/rental homes are in high demand. With stringent lending guidelines, there are less buyers in the market right now. You will find potential tenants throughout Austin including Cedar Park and the surrounding areas.

Contact a real estate agent to run comparables for lease homes in different areas of town. You will want to evaluate the monthly lease payments and the days on market for each area. A vacant rental investment home does not help your cause. If you notice some areas with a high days on market, shift your search to other areas.

Be sure to think about location, schools, and maintenance of the subdivision. Those are all important factors that potential tenants will consider when looking for a lease home.

Feel free to contact my office to set up a free search of investment properties that may work for you.

Best of luck!
0 votes Thank Flag Link Wed Oct 5, 2011
Hi Nathan,

I think you've asked this question before but for a differrent neighborhood, if I remember correctly.

I work with an investor who, together, we have a pretty good system, If you'd like to contact me, I can tell you more about how we go about our purchases. Even if you have a realtor, I dont mind elaborating. In addition, when you purchase an investment property with me, I list it for for lease for free.

I can be reached at any time.

With kind regards,


Angele Moyseos
Realtor®
VOX Real Estate LLC
mobile 512.466.8252
escapesomewhere.com
0 votes Thank Flag Link Fri Sep 30, 2011
Anderson Mill has Round Rock neighborhood schools elementary,middle and high school. Call me dan Seeds 512-656-8771
0 votes Thank Flag Link Fri Sep 30, 2011
Cedar Park is excellent...Round Rock is HOT HOT HOT for rentals! I am working with 2 other investors (in about the same price range) in this area - I'd be happy to add you to my list of special clients. I know this area very well. I live and work here.
Cindy Crawford
Keller Williams Realty
2300 Greenhill Bldg 200
Round Rock, TX 78664
CindyCrawford@kw.com
http://www.cindycrawfordhomes.com
0 votes Thank Flag Link Fri Sep 30, 2011
Hi Nathan,

As I mentioned in your previous question, I feel South Austin is a great place for investment property. It is a great location with lots of choices under $175k. With Austin, being the the number one relocation for single people, this area is in high demand for both rental and resale.

Please feel free to contact me if you would like detailed analysis on any home or neighborhood. I would be very happy to find you a great rental property that meets all of your investment goals.

Steve Nusinow
(512)922-7588
0 votes Thank Flag Link Fri Sep 30, 2011
Hi Nathan,

Cedar Park is a great place to invest in rental properties. They are rented quickly and there are many SFHs in nice neighborhoods for $175K or less. I work out of the Keller Williams office in Cedar Park and would be happy to show you some possible rental homes.

Sara Scott
Keller Williams Realty
Web Reference: http://www.homesbysara.net/
0 votes Thank Flag Link Fri Sep 30, 2011
Hi Nathan,

The good news is the overall rental market in the Austin area is up about 12% this year. With approximately 6,000 new Austin residents each month investing in the area can be a good invesment. You need a professional real estate agent to help you decide where best to invest based on your goals as an investor. Current average lease listings in Cedar Park are leasing at approximately $0.75/sq. ft. in contrast to South Austin in zip code 78745 at a little over $1.00/SF.
0 votes Thank Flag Link Fri Sep 30, 2011
Great returns if you renovate in 78721. Close to town but still cheap. I don't know about Cedar Park. I work mostly in East Austin.
0 votes Thank Flag Link Fri Sep 30, 2011
Nathan,
As I said before, select a professional to work with. General questions are cool but the specifics are saved for my clients. My business is real estate and that's how I feed my family. I can't work for free. Do you?
Call ~ Text ~ Email ~ Directly
Bill
0 votes Thank Flag Link Fri Sep 30, 2011
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