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1060 Sunset Canyon Drive S Dripping Springs, TX 78620

4 Beds 3 Baths 2,831 sqft Built 1998

$675,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $238.43
  • 6 Days on Market
  • MLS # : 5296971
  • Updated Date : 01/31/2021 at 01:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,831 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Please submit best and final offers, they are to be presented to owners as they come in. Nestled on 1.9+ tree-covered acres and set back from the road, this beautifully updated home has both a large front and backyard to enjoy outdoor living and Hill Country views. Home offers plenty of space with 4 bedrooms 3 full baths, multiple living and dining spaces for relaxed entertaining plus a dedicated office. Bright and spacious eat-in kitchen with quartz counters and glass tile back splash flows into a large living area with fireplace. Main floor contains a guest bedroom and associated full bath with extra wide doors for easy access. Retreat to an upstairs primary suite containing crown molding, high ceilings and a luxurious bath featuring a large soaking tub and separate shower. A fenced-in yard containing a 60 gallon pond, a garden, outdoor shower with hot/cold water and chicken coop completes this Hill Country beauty all within close proximity to Austin. City water available.

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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$2,345
Property Tax -$1,160
Property Insurance -$186
HOA -$3
Property Management Fees -$99
CASH FLOW
-$713

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.

$675,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.46%

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) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$728

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $3,050

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7003$2,9954$3,080
$3,080
RENT COMPS ANALYSIS
  • 1060 Sunset Canyon Drive S Dripping Springs, TX 4
    • 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.09
    •  
  • 136 Wild Plum Way Austin, TX 1
    • 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2006
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 1007 Sundance Ridge Road Dripping Springs, TX 2
    • 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1994
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.06
    •  
  • 208 Tom Sawyer Rd Dripping Springs, TX 3
    • 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2003
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.11
    •  
PROPERTY LISTING DETAILS
Crystal Lopez
1.512.621.8211
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5296971
Last Updated: 01/31/2021
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