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113 Windmill Cove Georgetown, TX 78628

3 Beds 2 Baths 1,627 sqft Built 1991

$282,500

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $173.63
  • 4 Days on Market
  • MLS # : 5579015
  • Updated Date : 11/12/2020 at 16:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,627 sqft
  • Baths : 2 full
Listing Agent

Century 21 Hellmann Stribling

Listing Agent's Description

Beautiful neighborhood, intriguingly nestled among the trees on a cul-de-sac. Walking distance to schools. Four sided brick home, awesome front porch, open floorplan, flex room could be a fourth bedroom/study/playroom/dining room. Vaulted beam ceiling in family room with a fireplace. Large master bedroom with a tray ceiling and a ceiling fan. Bedrooms have customized walk-in closets. Large backyard features a covered back patio, and a storage building. NO HOA!!

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: Reata Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k315k

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

Neighborhood: Reata Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7631816

* 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
Frost Elementary School Primary Regular 431 33 2
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Frost Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 33
2
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
 

$254,250$310,750$282,500

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,042
Property Tax -$554
Property Insurance -$119
Property Management Fees -$134
CASH FLOW
-$178

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.

$282,500

PROJECTED PRICE

$1,670

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,613

INVESTMENT

$80,613

Down Payment
$70,625
Rehab Estimate
$5,750
Closing Costs
$4,238

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,625
Loan Amount $211,875
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,672

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6253$1,6704$1,750
$1,750
RENT COMPS ANALYSIS
  • 113 Windmill Cove Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.03
    •  
  • 3403 Lonesome Trail Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1984
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.03
    •  
  • 205 Golden Oaks Dr Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1981
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
  • 802 Wagon Wheel Trl Georgetown, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1984
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jana Vaughn
1.512.635.4393
Century 21 Hellmann Stribling
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5579015
Last Updated: 11/12/2020
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