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1044 Clove Hitch Road Georgetown, TX 78633

4 Beds 4 Baths 2,639 sqft Built 2015

$350,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $132.63
  • 4 Days on Market
  • MLS # : 6073955
  • Updated Date : 03/19/2021 at 13:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,639 sqft
  • Baths : 3 full , 1 half
Listing Agent

Schaible Realty

Listing Agent's Description

Nice four side brick two story home boasting large open living spaces and backyard for entertaining friends and family. Kitchen has granite, black appliances, pantry, island/bar, lots of counters and storage space. Dining room and living room is wide open, plenty of room to spread out and enjoy your space. Primary bedroom is downstairs tucked in the back of the home. Large room is accented by the walk-in closet, dual sinks(one vanity) and sep tub/shower in the bathroom. Upstairs there is also an en suite huge bedroom with closet and private bathroom with one sink/shower. Two other guest rooms are nice with amazing closets. Other notable features: 4 sides brick, back covered patios, firepit, sprinkler system, garage w/storage closet, utility room, lots of closets, upstairs loft area, and zoned for Georgetown ISD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: Georgetown Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Georgetown Village

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
Village Elementary School Primary Regular 370 29 7
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Village Elementary School

  • Education Level: Primary
  • # of students: 370
  • # of teachers: 29
7
GreatSchools Rating

Douglas Benold Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 53
5
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,216
Property Tax -$686
Property Insurance -$176
HOA -$8
Property Management Fees -$99
CASH FLOW
-$115

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.

$350,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 3.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,558

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,210

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0703$2,1504$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1044 Clove Hitch Road Georgetown, TX 2
    • 4 beds 4 baths ∙ 2,639 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,639 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.78
    •  
  • 1049 Clove Hitch Road Georgetown, TX 1
    • 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2014
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 445 Sheepshank Drive Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 2016
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 1224 Half Hitch Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 2017
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 506 Bluehaw Drive Georgetown, TX 5
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2010
    property image
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Bradley Schaible
Schaible Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6073955
Last Updated: 03/19/2021
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