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1113 Highwater Drive Georgetown, TX 78628

3 Beds 2 Baths 2,336 sqft Built 2020

$392,990

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $168.23
  • 9 Days on Market
  • MLS # : 7105821
  • Updated Date : 10/26/2020 at 15:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,336 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready February 2020! This gorgeous 1 story offers the bay at the master, 1/2 bath, oversized covered patio #2, and full sod and sprinkler. Interior upgrades included extensive hard wood flooring, upgraded kitchen appliances, tech foundation, outdoor living enhancement and many more. Ditch the drive and work from home instead in the Holly’s home office. Across the foyer, another adaptable space makes a lovely dining room or fun play space. Huge walk-in closets throughout maximize storage. Water Oak offers gorgeous topography, serene hiking trails, a park, and a future amenity center. It’s minutes from convenient shopping at Wolf Ranch and HEB! Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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: 78628

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Zip Code: 78628

ZipNIR 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
Dell Pickett Elementary School Primary Regular 337 28 5
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

Dell Pickett Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 28
5
GreatSchools Rating

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$353,691$432,289$392,990

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,450
Property Tax -$794
Property Insurance -$159
HOA -$54
Property Management Fees -$186
CASH FLOW
-$322

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$392,990

PROJECTED PRICE

$2,320

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,142

INVESTMENT

$106,142

Down Payment
$98,248
Rehab Estimate
$2,000
Closing Costs
$5,895

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,450

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,248
Loan Amount $294,743
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,359

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2953$2,3204$2,500
$2,500
RENT COMPS ANALYSIS
  • 1113 Highwater Drive Georgetown, TX 3
    • 3 beds 2 baths ∙ 2,336 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,336 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.99
    •  
  • 121 El Ranchero Road Georgetown, TX 1
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 816 Desaix Dr Georgetown, TX 2
    • 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2018
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
  • 112 Cross Mountain Trail Georgetown, TX 4
    • 3 beds 3 baths ∙ 2,398 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,398 Sqft ∙ Built 2018
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
1.512.629.4581
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7105821
Last Updated: 10/26/2020
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