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1 Mimosa Lane Wimberley, TX 78676

4 Beds 2 Baths 1,757 sqft Built 2021

$349,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $199.15
  • 17 Days on Market
  • MLS # : 6634314
  • Updated Date : 01/25/2021 at 16:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,757 sqft
  • Baths : 2 full
Listing Agent

Century 21 Randall Morris & As

Listing Agent's Description

Make this new construction home yours this spring! There's still time to add your personal touch by choosing the interior & exterior paint color, along with a selection of builder finishes. This well thought-out floor plan includes 4 bedrooms, with one bedroom at the front of the home, offering options for a home office, guest room, or a fourth bedroom. The master bathroom includes a walk-in closet, double vanity and spacious shower with a bench. Enjoy a wood burning fireplace in the living area, which opens up to the dining space and kitchen - perfect for keeping everyone together. This home sits on a corner lot with small to medium-sized trees. Other highlights in this home include granite countertops in kitchen and bathrooms, frameless glass in the primary bathroom shower, ceramic tile planks, CAT 6 cables for data in bedrooms and builder home warranties. Enjoy the beauty of Wimberley and the close proximity to Jacob's Well. Renderings give a general idea of the home construction, see agent for floor plan on details of the home, as well as a look at what your home finish selections can be.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Zip Code: 78676

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k410k

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

Zip Code: 78676

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8272157

* 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
Jacob's Well Elementary School Primary Regular 629 41 6
Danforth Junior High School Middle Regular 479 35 8
Wimberley High School High Regular 695 51 7

Jacob's Well Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 41
6
GreatSchools Rating

Danforth Junior High School

  • Education Level: Middle
  • # of students: 479
  • # of teachers: 35
8
GreatSchools Rating

Wimberley High School

  • Education Level: High
  • # of students: 695
  • # of teachers: 51
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,215
Property Tax -$553
Property Insurance -$126
HOA -$10
Property Management Fees -$99
CASH FLOW
-$244

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.

$349,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,724

INVESTMENT

$94,724

Down Payment
$87,475
Rehab Estimate
$2,000
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6253$1,7004$1,7005$1,760
$1,760
RENT COMPS ANALYSIS
  • 1 Mimosa Lane Wimberley, TX 5
    • 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.00
    •  
  • 88 Shady Bluff Drive Wimberley, TX 1
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1973
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 10 Deer Ridge Rd Wimberley, TX 2
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1997
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
  • 7 Falling Leaf Ln Wimberley, TX 3
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1991
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 7 Falling Leaf Lane Wimberley, TX 4
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1991
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Sylvia Muzzy
1.512.738.2053
Century 21 Randall Morris & As
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6634314
Last Updated: 01/25/2021
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