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1033 Hazy Hills Loop Dripping Springs, TX 78620

3 Beds 3 Baths 2,199 sqft Built 2020

$450,460

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $204.85
  • 9 Days on Market
  • MLS # : 1590906
  • Updated Date : 10/26/2020 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,199 sqft
  • Baths : 2 full , 1 half
Listing Agent

David Weekley Homes

Listing Agent's Description

This stunning Rowan plan boast beautiful architectural detail and an incredible open concept plan. Inside you will find a warm welcoming environment with tons of natural light, study, deluxe owner's retreat/bathroom, and the gourmet kitchen and oversized rear patio which are perfect for entertaining family and friends. Spend an evening relaxing and enjoying the view from the privacy of your large covered rear patio. This beautiful home is built with incredible quality, attention to detail and energy efficiency as priorities. Call today to view this incredible home. Our EnergySaver™ Homes offer peace of mind knowing your new home in Austin is minimizing your environmental footprint while saving energy. A David Weekley EnergySaver home in Austin averages a 59 on the HERS Index. Square Footage is an estimate only; actual construction may vary.

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

Zip Code: 78620

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k461k

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

Zip Code: 78620

ZipNIR 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
Dripping Springs Elementary School Primary Regular 921 57 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Dripping Springs Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
8
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$405,414$495,506$450,460

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,662
Property Tax -$774
Property Insurance -$151
HOA -$120
Property Management Fees -$222
CASH FLOW
-$149

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$450,460

PROJECTED PRICE

$2,780

PROJECTED RENT

0.62%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,372

INVESTMENT

$121,372

Down Payment
$112,615
Rehab Estimate
$2,000
Closing Costs
$6,757

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,662

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,615
Loan Amount $337,845
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$11,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,785

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7803$2,8004$3,495
$3,495
RENT COMPS ANALYSIS
  • 1033 Hazy Hills Loop Dripping Springs, TX 2
    • 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.26
    •  
  • 1007 Sundance Ridge Road Dripping Springs, TX 1
    • 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1994
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.06
    •  
  • 802 Oakwood Lane Dripping Springs, TX 3
    • 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1994
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.27
    •  
  • 1025 Windmill Road Dripping Springs, TX 4
    • 3 beds 2 baths ∙ 2,373 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,373 Sqft ∙ Built 2001
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.47
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
1.512.821.8818
David Weekley Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1590906
Last Updated: 10/26/2020
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