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109 Village Park Drive Georgetown, TX 78633

3 Beds 2 Baths 1,757 sqft Built 2002

$300,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $170.75
  • 3 Days on Market
  • MLS # : 1545846
  • Updated Date : 11/07/2020 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,757 sqft
  • Baths : 2 full
Listing Agent

Kuper Sotheby's Itl Rlty

Listing Agent's Description

Beautiful fully updated David Weekly built home. Upgrades include quartz counter tops, stainless appliances, luxury wood-look vinyl floors throughout, designer light fixtures, new fencing & roof replaced(2020). 3/2 with large family room open to the kitchen, study/bonus room at front of the home, and formal dining. In-law plan. Great location with a beautiful pocket park across the street along with city pool, & less than 1/2 mile from Village Elem.

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: 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,107
Property Tax -$588
Property Insurance -$126
Property Management Fees -$137
CASH FLOW
-$248

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.

$300,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.57%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7103$1,8004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 109 Village Park Drive Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.97
    •  
  • 105 Rosebud Lane Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 165 Hickory Lane Georgetown, TX 3
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 2001
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 203 Village Park Drive Georgetown, TX 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.09
    •  
  • 211 Village Park Drive Georgetown, TX 5
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2007
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.04
    •  
PROPERTY LISTING DETAILS
Linda Burns
1.512.966.9722
Kuper Sotheby's Itl Rlty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1545846
Last Updated: 11/07/2020
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