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10102 Thomas Lane Dripping Springs, TX 78620

3 Beds 2 Baths 1,418 sqft Built 2008

$359,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $253.81
  • 4 Days on Market
  • MLS # : 1310374
  • Updated Date : 12/24/2020 at 16:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

GIVE TENANTS A 24 HOUR NOTICE. Available to show 12/26/20 Charming 3/2 home on large lot with an expansive fenced back yard. Set way back on the street for added privacy. Tranquil covered front porch. Open floor plan, granite counters, stainless appliances and many upgraded features including recent paint. Refrigerator & washer/dryer are included. Feeds to Lake Travis ISD and close to The Galleria and other area shopping, restaurants and movie theater.

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: Valley Lake Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $120k461k

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

Neighborhood: Valley Lake Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9972218

* 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
Bee Cave Elementary School Primary Regular 623 39 8
Lake Travis Middle School Middle Regular 1,066 64 10
Lake Travis High School High Regular 2,561 141 8

Bee Cave Elementary School

  • Education Level: Primary
  • # of students: 623
  • # of teachers: 39
8
GreatSchools Rating

Lake Travis Middle School

  • Education Level: Middle
  • # of students: 1,066
  • # of teachers: 64
10
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,328
Property Tax -$625
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$299

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.

$359,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,850

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,9003$1,9504$1,975
$1,975
RENT COMPS ANALYSIS
  • 10102 Thomas Lane Dripping Springs, TX 1
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.31
    •  
  • 10220 Thomas Ln Dripping Springs, TX 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1984
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.26
    •  
  • 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
    •  
  • 10027 Janet Loop Dripping Springs, TX 4
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2006
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.32
    •  
PROPERTY LISTING DETAILS
Dawn Mckim
1.512.300.1187
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1310374
Last Updated: 12/24/2020
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