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107 Sinclair Drive Spicewood, TX 78669

3 Beds 2 Baths 1,661 sqft Built 2002

$370,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $222.76
  • 2 Days on Market
  • MLS # : 7173978
  • Updated Date : 01/09/2021 at 16:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,661 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

This home is nestled in the Briarcliff neighborhood and features an open floor plan with 3 bedrooms/ 2 bath split. It has several trees on the lot giving you a feel of the country and more than enough room to entertain. Lake Travis/ Pace Bend Park is just 5 min away for a quick scenic get a way. Dine in or take out at the Lighthouse Bar and Grill that overlooks Lake Travis just 2 min away. This home has a great location and has been professionally painted and is awaiting its new owner. Come take a tour and see for yourself!

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: Briarcliff

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k511k

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

Neighborhood: Briarcliff

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972171

* 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
West Cypress Hills Elementary School Primary Unknown 525 32 NA
Lake Travis Middle School Middle Regular 1,066 64 10
Lake Travis High School High Regular 2,561 141 8

West Cypress Hills Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 32
NA
GreatSchools Rating

Lake Travis Middle School

  • Education Level: Middle
  • # of students: 1,066
  • # of teachers: 64
10
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,285
Property Tax -$607
Property Insurance -$121
HOA -$25
Property Management Fees -$99
CASH FLOW
-$287

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.

$370,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 9.6%
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$1.0M$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8504$1,9005$1,925
$1,925
RENT COMPS ANALYSIS
  • 107 Sinclair Drive Spicewood, TX 3
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 22234 Briarcliff Dr Briarcliff, TX 1
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1985
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.12
    •  
  • 311 Cowal Drive Spicewood, TX 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2003
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.16
    •  
  • 209 Cargill Drive Briarcliff, TX 4
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 2003
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
  • 412 Cargill Drive Spicewood, TX 5
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2007
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.09
    •  
PROPERTY LISTING DETAILS
Charla Cormier
1.830.613.0448
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7173978
Last Updated: 01/09/2021
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