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100 Thomas Cove Burnet, TX 78611

4 Beds 3 Baths 1,790 sqft Built 2020

$286,400

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $160.00
  • 96 Days on Market
  • MLS # : 9864673
  • Updated Date : 11/29/2020 at 03:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,790 sqft
  • Baths : 2 full , 1 half
Listing Agent

All City Real Estate Ltd. Co

Listing Agent's Description

Are you looking for a custom home feel without the custom price? Look no further! J&L Builders will work with you to make sure you get your dream home. Work with the builder to finalize all the plans now, home will be ready by the end of the year! Conveniently located in the Highland Oaks neighborhood near Burnet schools this home has it all. This stunning 4 bed 2.5 bath home offers custom features throughout on a large corner lot. Upon entering you will notice the builder spares no expense as you are welcomed into the foyer boasting 10-foot ceilings, the living room complete with a coffered ceiling opens to the well-appointed kitchen and dining room. This home also has a wonderful split floorplan with the owner's suite separate from the 3 additional bedrooms and second full bath perfect for that quiet peaceful retreat. Other features include a heavy iron front door, polished concrete floors, a massive walk-in shower, granite counters, covered patio, built-in appliances, front & back sod w/ sprinkler system + much, much more.

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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: 78611

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k237k

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

Zip Code: 78611

No Data Available.

* 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
Burnet High School High Regular 892 59 3

Burnet High School

  • Education Level: High
  • # of students: 892
  • # of teachers: 59
3
GreatSchools Rating
 

$257,760$315,040$286,400

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,057
Property Tax -$404
Property Insurance -$127
HOA -$10
Property Management Fees -$143
CASH FLOW
$50

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$286,400

PROJECTED PRICE

$1,790

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,896

INVESTMENT

$77,896

Down Payment
$71,600
Rehab Estimate
$2,000
Closing Costs
$4,296

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,057

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,600
Loan Amount $214,800
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,727

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,790
$1,790
RENT COMPS ANALYSIS
  • 100 Thomas Cove Burnet, TX 3
    • 4 beds 3 baths ∙ 1,790 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,790 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.00
    •  
  • 309 E Pecan St Burnet, TX 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2019
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 700 S Vanderveer St Burnet, TX 2
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2003
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jessica Ahern
1.512.925.6075
All City Real Estate Ltd. Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9864673
Last Updated: 11/29/2020
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