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109 Silver Spur Horseshoe Bay, TX 78657

3 Beds 4 Baths 2,957 sqft Built 1999

$575,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $194.45
  • 2 Days on Market
  • MLS # : 9810699
  • Updated Date : 02/13/2021 at 23:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,957 sqft
  • Baths : 3 full , 1 half
Listing Agent

Busse Group Real Estate

Listing Agent's Description

Horseshoe Bay, on Slick Rock Golf Course: beautiful views, lush landscaping, & classic design make this home an incredible treasure. Perfect for entertaining, this single level property boasts open spaces allowing family & friends to feel relaxed & at home. Huge picture windows line the back of the house, providing southeast facing, golf views, while a stone fireplace adds charming ambiance. A chef’s delight, the all stainless kitchen boasts abundant storage, counter space, center island, granite counters, & walk-in pantry. Enjoy your morning coffee in the breakfast area, then move to the formal dining room off of the entryway for a more elegant affair. The master suite is a relaxing retreat offering lush golf course views, patio access, & private sitting area. A generous en-suite bath boasts double vanities, large tub, stand-alone shower, & an over-sized walk-in closet. Allowing plenty of room & privacy for your guests, two spacious and cozy guest rooms, each with en-suite baths, sit on the opposite side of the home. An additional half bath serves as the powder room. The amazing outdoor living is suitable for entertaining large crowds or serves as your private retreat. Grill in your outdoor kitchen, complete with smoker, enjoy an evening cocktail with friends on the covered porch, or cozy up with a good book on the patio while taking in the colorful Texas skies. Wildlife abounds as you quietly relax.

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: 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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,997
Property Tax -$829
Property Insurance -$191
HOA -$24
Property Management Fees -$99
CASH FLOW
-$221

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.

$575,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.51%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$7,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,223

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,920
$2,920
RENT COMPS ANALYSIS
  • 109 Silver Spur Horseshoe Bay, TX 2
    • 3 beds 4 baths ∙ 2,957 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,957 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.99
    •  
  • 1120 Hi Fault Horseshoe Bay, TX 1
    • 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
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 #: 9810699
Last Updated: 02/13/2021
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