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105 Norwood Street W Georgetown, TX 78628

4 Beds 2 Baths 2,400 sqft Built 1985

$373,500

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $155.63
  • 6 Days on Market
  • MLS # : 3171096
  • Updated Date : 11/03/2020 at 21:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,400 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Situated on a large established lot with numerous trees, this 1 story home with great location is a must see! Features include a MIL floor plan with Jack and Jill bathroom and custom woodwork throughout. Expansive living area contains high ceilings, skylights, adjacent wet bar for entertaining and an impressive floor to ceiling fireplace as the central feature of the room. Large kitchen contains center island, gas range and ample storage space. Tile floors throughout the home makes easy to care for; no carpet. Enjoy a covered back porch and deck overlooking an oversized backyard ideal for relaxing and entertaining. Walking distance to nearby elementary and middle school or San Gabriel River, plus easy access to I-35.

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: River Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $126k374k

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

Neighborhood: River Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9372144

* 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
Dell Pickett Elementary School Primary Regular 337 28 5
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

Dell Pickett Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 28
5
GreatSchools Rating

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$336,150$410,850$373,500

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,378
Property Tax -$732
Property Insurance -$162
Property Management Fees -$169
CASH FLOW
-$331

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.

$373,500

PROJECTED PRICE

$2,110

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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

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$104,728

INVESTMENT

$104,728

Down Payment
$93,375
Rehab Estimate
$5,750
Closing Costs
$5,603

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,378

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,375
Loan Amount $280,125
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,400

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,3003$2,4004$2,700
$2,700
RENT COMPS ANALYSIS
  • 105 Norwood Street W Georgetown, TX 1
    • 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.88
    •  
  • 210 Cassidy Drive Georgetown, TX 2
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1995
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 421 Granite Rock Lane Georgetown, TX 3
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2018
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 4032 Mercer Road Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 2018
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lorella Martin
1.512.966.0533
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3171096
Last Updated: 11/03/2020
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