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102 Outcrop View Lane Lakeway, TX 78738

3 Beds 3 Baths 2,260 sqft Built 2006

$500,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $221.24
  • 8 Days on Market
  • MLS # : 9310156
  • Updated Date : 10/27/2020 at 17:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,260 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams - Lake Travis

Listing Agent's Description

Text and GO 512.431.6151. #LOCATION! LOCATION! Upscale lock & leave is perfect for busy on-the-go people. Walk to Starbucks and Lakeway shopping. It is a 2-minute drive to hospital, grocery stores, restaurants & schools. Your clients will LOVE the amazing small community of Yaupon Creek & this classy garden home. 3/2.5/2 & 2260 sq ft is the perfect size. Open concept living, dining, & kitchen are fantastic for entertaining friends & family. Family room is anchored by a lovely stone fireplace with gas logs and its own chandelier. Kitchen has miles of cabinets, granite counters, pantry, & refrigerator conveys. One bedroom can also act as an office. Both secondary bedrooms share a bath while guests may use the powder room without disturbing the dweller's privacy. Master is king-sized with room for a sitting area. En suite bath has double sinks, separate shower, garden tub and a closet to "die" for. It’s huge! Wood flooring in all bedrooms is hickory. Clean tile covers the living and “wet” areas. All windows come with custom-installed maple plantation shutters. Extended covered patio is plumbed for gas grill, plus a flagstone patio with gazebo make outdoor entertainment a breeze. In the front yard is a huge ancient oak tree that is stunning. Yard is fully fenced, very private, with space to play outdoor games. Home has full gutters, sprinkler system, new compressor on air conditioner, newer hot water heater and insulated garage door. Interior has been fully painted, is pristine, & ready for move in. LTISD schools, Lakeway Elem, Hudson Bend Middle & Lake Travis High, are all highly rated. Yes, this home is a winner, & yes, it can be yours.

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: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k540k

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

Neighborhood: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9972952

* 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
Lakeway Elementary School Primary Regular 701 42 9
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Lakeway Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 42
9
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

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

$450,000$550,000$500,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$1,845
Property Tax -$920
Property Insurance -$154
HOA -$108
Property Management Fees -$232
CASH FLOW
-$359

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.

$500,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,893

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9003$2,9004$2,995
$2,995
RENT COMPS ANALYSIS
  • 102 Outcrop View Lane Lakeway, TX 3
    • 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.28
    •  
  • 15217 Glen Heather Drive Lakeway, TX 1
    • 3 beds 3 baths ∙ 2,221 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,221 Sqft ∙ Built 2011
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.17
    •  
  • 214 Rivulet Ln Lakeway, TX 2
    • 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 2009
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.34
    •  
  • 204 Rivulet Lane Austin, TX 4
    • 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,359 Sqft ∙ Built 2006
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.27
    •  
PROPERTY LISTING DETAILS
Melanie Damron
1.512.431.6151
Keller Williams - Lake Travis
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9310156
Last Updated: 10/27/2020
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