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101 Settlers Dr Cedar Park, TX 78613

3 Beds 3 Baths 1,787 sqft Built 1995

INVESTimate

$299,900

List Price

$1,770

$1,593 - $1,947

Rent Est.

$317,504  ( +5.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $167.82
  • 3 Days on Market
  • MLS # : 2321864
  • Updated Date : 08/24/2020 at 14:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,787 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kuper Sotheby's Itl Rlty

Listing Agent's Description

Rare opportunity to own all brick home with no HOA in the heart of Cedar Park, TX. Maintained with tender loving care, home has 3 bedrooms, 2.5 baths, and flex space, making a perfect study. Spacious 2 car garage with a half bath. Double-wide, side entry gate offers easy access to covered parking area for boat or RV. 12 x 20 workshop has power, ideal for hobbies or storage. Large 1/4 acre corner lot with yard space and trees. Fresh paint, recently installed vinyl plank flooring complete the property.

SEE MORE

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

Neighborhood: Settler's Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Settler's Creek

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
Westside Elementary School Primary Regular 562 39 8
Henry Middle School Middle Regular 1,242 70 8
Vista Ridge High School High Regular 2,114 128 8

Westside Elementary School

  • Education Level: Primary
  • # of students: 562
  • # of teachers: 39
8
GreatSchools Rating

Henry Middle School

  • Education Level: Middle
  • # of students: 1,242
  • # of teachers: 70
8
GreatSchools Rating

Vista Ridge High School

  • Education Level: High
  • # of students: 2,114
  • # of teachers: 128
8
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,107
Property Tax -$660
Property Insurance -$128
Property Management Fees -$142
CASH FLOW
-$266

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.

$299,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7253$1,7704$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 101 Settlers Dr Cedar Park, 3
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.99
    •  
  • 1107 Colby Ln Cedar Park, 1
    • 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1993
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 1300 Yellow Rose Trl Cedar Park, 2
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1990
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.00
    •  
  • 1201 Sugarberry Dr Cedar Park, 4
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1993
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 1015 Dogwood Trl Cedar Park, 5
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2011
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lauren Powell
1.512.695.0679
Kuper Sotheby's Itl Rlty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2321864
Last Updated: 08/24/2020
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