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101 Locklin Drive Liberty Hill, TX 78642

3 Beds 3 Baths 2,038 sqft Built 2019

$325,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $159.47
  • 4 Days on Market
  • MLS # : 7026927
  • Updated Date : 01/16/2021 at 15:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,038 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Prosper

Listing Agent's Description

Immaculate move-in ready 2 story home with a 19-foot entryway features an open kitchen with a large kitchen island that overlooks family room and dining room along with a half bath downstairs. Upstairs you will find 3 bedrooms and 2 baths. Primary bedroom is spacious with a primary bathroom having his and hers walk-in closets, dual vanities and large walk-in shower. The laundry room is conveniently located upstairs. Upgrades include, automatic sprinkler system, faux wood blinds, nest thermostat, ring doorbell, Wi-Fi automatic garage door. Located on a cul-de-sac with greenbelt next to property. Neighborhood has many amenities to choose form, including two resort-style pools ,kids splash pad, fitness facility ,parks, catch and release fishing lake and nature trails.This home is still under home builder warranty until 12/31/21.

SEE MORE

MARKET HIGHLIGHTS

  • #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: Santa Rita Ranch

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $116k410k

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

Neighborhood: Santa Rita Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Dell Pickett Elementary School Primary Regular 337 28 5
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

Dell Pickett Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 28
5
GreatSchools Rating

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,129
Property Tax -$635
Property Insurance -$135
HOA -$57
Property Management Fees -$99
CASH FLOW
-$135

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.

$325,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$2,0703$2,1004$2,1505$2,395
$2,395
RENT COMPS ANALYSIS
  • 101 Locklin Drive Liberty Hill, TX 1
    • 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.00
    •  
  • 401 Inspiration Drive Liberty Hill, TX 2
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2018
    property image
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.16
    •  
  • 120 Magdalene Way Liberty Hill, TX 3
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 155 Rosebush Liberty Hill, TX 4
    • 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 2020
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.14
    •  
  • 137 Krupp Avenue Liberty Hill, TX 5
    • 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 2018
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.13
    •  
PROPERTY LISTING DETAILS
Veronica Payne
1.832.420.4425
Realty One Group Prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7026927
Last Updated: 01/16/2021
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