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111 Lachite #C Horseshoe Bay, TX 78657

3 Beds 4 Baths 2,823 sqft Built 2005

$460,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $162.95
  • 3 Days on Market
  • MLS # : 3510040
  • Updated Date : 01/15/2021 at 21:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,823 sqft
  • Baths : 3 full , 1 half
Listing Agent

Busse Group Real Estate

Listing Agent's Description

Living is ideal in this luxurious garden home, situated on Horseshoe Bay’s Ram Rock Golf Course. Perfect for an investor or sharedownership, two master suites insure entertaining in grand style. BOTH LONG- AND SHORT-TERM RENTALS ARE ALLOWED. Fromthe central living, dining, and kitchen, windows bathe the home in natural light and majestic trees dapple the backyard with shade. Acentral fireplace warms the space, and the stainless kitchen boasts custom cabinets and rich granite counters. Enjoy your morningcoffee from the spacious pull-up bar, then move to the elegant dining area for a more formal meal. Both owner suites, one downstairsand one upstairs, are luxurious retreats, and each pampering on-suite bath highlights custom tile, double vanities, free-standing shower,jetted tub, and a generous closet. Upstairs, a second bedroom and bath serve many uses. Two other garden homes share the detached, oversized garages, with multiple parking bays, and generous storage. From the main living area, step outdoors to the patio. Gatherwith friends and family around the outdoor kitchen, firepit, and sitting area. Enjoy resort living at its best.

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: Horseshoe Bay West

ZipNIR Market*CityMarket2010Year2000 Q22019100k150k200k250k300k350k400kPrice in $91k408k

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

Neighborhood: Horseshoe Bay West

Neighborhood2018 Q3Year20182019 Q21900195020002050Rent in $18792089

* 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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,598
Property Tax -$663
Property Insurance -$184
HOA -$57
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.

$460,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,946

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,091

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,9003$3,200
$3,200
RENT COMPS ANALYSIS
  • 111 Lachite #c Horseshoe Bay, TX 1
    • 3 beds 4 baths ∙ 2,823 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,823 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.84
    •  
  • 1120 Hi Fault Horseshoe Bay, TX 2
    • 3 beds 4 baths ∙ 2,661 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,661 Sqft ∙ Built 2019
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.09
    •  
  • 104 Smugglers Cv Horseshoe Bay, TX 3
    • 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 2019
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.10
    •  
PROPERTY LISTING DETAILS
Janis Busse
1.830.265.8865
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 #: 3510040
Last Updated: 01/15/2021
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