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104 Southern Spur Horseshoe Bay, TX 78657

3 Beds 4 Baths 2,580 sqft Built 2013

$499,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $193.41
  • 7 Days on Market
  • MLS # : 2864260
  • Updated Date : 01/12/2021 at 12:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,580 sqft
  • Baths : 3 full , 1 half
Listing Agent

Busse Group Real Estate

Listing Agent's Description

Close to Horseshoe Bay’s core amenities, own a resort-styled paradise where open-air living is incomparable. With high-end features, quality finishes, and impeccable design, the home’s value is apparent the moment you step inside. Perfect for entertaining, its single level living presents open spaces, oceans of light, and a gracious ambiance, allowing family and friends to feel relaxed and at home. A chef’s delight, the all stainless kitchen boasts custom cabinets, abundant storage, center island, granite counters, and walk-in pantry. Enjoy your morning coffee at the bar or in the breakfast area, then move off the entry to the formal dining room for a more elegant affair. The master suite is a relaxing retreat offering lovely views. A generous en-suite bath boasts double vanities, large tub, stand-alone shower, and over-sized walk-in closet. Allowing plenty of room and privacy for your guests, two spacious guest rooms, each sit on the opposite side of the home and the third bedroom can also serve as an office or studio. The indoor/outdoor living is suitable for entertaining or as your private retreat. Grill outdoors, enjoy an evening cocktail with friends, or cozy up with a good book while taking in the colorful Texas skies. Breathe deeply, relax, and enjoy your personal Hill Country oasis.

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: The Fairways at Slick Rock

ZipNIR Market*CityMarket2010Year2000 Q22019100k150k200k250k300k350k400kPrice in $91k408k

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

Neighborhood: The Fairways at Slick Rock

Neighborhood2018 Q3Year20182019 Q22000210022002300Rent in $19472324

* 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
Llano High School High Regular 477 39 5

Llano High School

  • Education Level: High
  • # of students: 477
  • # of teachers: 39
5
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,733
Property Tax -$720
Property Insurance -$171
HOA -$24
Property Management Fees -$99
CASH FLOW
-$146

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$499,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,666

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,6003$2,7004$2,900
$2,900
RENT COMPS ANALYSIS
  • 104 Southern Spur Horseshoe Bay, TX 2
    • 3 beds 4 baths ∙ 2,580 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,580 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
  • 3327 Bay West Boulevard Horseshoe Bay, TX 1
    • 4 beds 4 baths ∙ 2,332 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,332 Sqft ∙ Built 2008
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 110 Millwood Horseshoe Bay, TX 3
    • 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 1978
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.02
    •  
  • 1120 Hi Fault Horseshoe Bay, TX 4
    • 3 beds 4 baths ∙ 2,661 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,661 Sqft ∙ Built 2019
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.09
    •  
PROPERTY LISTING DETAILS
Janis Busse
1.830.265.8865
Busse Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2864260
Last Updated: 01/12/2021
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