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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $234.52
- 2 Days on Market
- MLS # : 3674083
- Updated Date : 12/19/2020 at 18:23
CONSTRUCTION
- Beds : 3
- Floor Size : 1,492 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Follow directions above and not GPS. Charming 3 Bedroom, 2 Bath home on a large, fully fenced and private lot in the Lake Travis School District. The covered patio and porch make for usable outdoor living space. The large, open Living Area opens to the Kitchen. Stained Concrete Floors and Stainless Appliances. The voluntary HOA offers hiking paths, a beautiful lake, park and children's playground close by. Washer/dryer and Refrigerator included.
SEE MORE
- #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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Valley Lake Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Valley Lake Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$608 | |
| Property Insurance | -$111 | |
| HOA | -$7 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$186
|
||
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.
$349,900
PROJECTED PRICE
$1,930
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.79% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,474
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,475 |
| Loan Amount | $262,425 |
2.33
YEARS SAVED
$7,021
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,930
LIST RENT -
$1.29
LIST RENT PER SQFT
-
$1,925
COMP ESTIMATED VALUE -
$1.29
COMP AVG. RENT PER SQFT
Comps Range
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10027 Janet Loop Dripping Springs, TX 2
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10220 Thomas Ln Dripping Springs, TX 1
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LEASED 08/01/20- Rent
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- $1,900
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10052 Janet Loop Dripping Springs, TX 3
- 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2007
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,950
- $1.38
-
9902 Little Creek Cir Dripping Springs, TX 4
- 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 2005
LEASED 02/07/20- Rent
- Rent Per SQFT
- $2,100
- $1.26
PROPERTY LISTING DETAILS
1.512.300.1187
Coldwell Banker Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 3674083
Last Updated: 12/19/2020
