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116 Granite Peak Cove Georgetown, TX 78633

2 Beds 2 Baths 1,397 sqft Built 2007

$282,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $201.86
  • 3 Days on Market
  • MLS # : 7397775
  • Updated Date : 01/24/2021 at 01:46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,397 sqft
  • Baths : 2 full
Listing Agent

Stacy Group Llc

Listing Agent's Description

Sun City Llano - come retire in this cute 2 bedroom home. If you love the outdoors, you will love this wrap around porch. Backyard faces south. You have the option of the screened in area or outdoor area so you can enjoy year round. Lots of trees and no neighbors behind makes this a great lot too. No steps from garage to home, Carpet in main areas and tile in wet area. Stainless appliances, corian counter-tops, and kitchen open to living/dining area. The guest room and guest bath are on the opposite side of master. Appt. w/ tenant to show - their lease ends March 6. Tenants own the light fixture in the dining room and the TV's and mounts will be going with them and do NOT convey with home. This is an inheritance home and sellers have never lived in the home. No Sellers Disclosure. Roof 2020, Hot water heater 2018, Refrig - Washer & Dryer do belong to seller (not tenant). Showings after 12:00 and please schedule directly with tenants.

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Sun City

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Sun City

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
Jarrell Middle School Primary Regular 271 21 3
Jarrell Middle School Middle Regular 271 21 3
Jarrell High School High Regular 332 30 5

Jarrell Middle School

  • Education Level: Primary
  • # of students: 271
  • # of teachers: 21
3
GreatSchools Rating

Jarrell Middle School

  • Education Level: Middle
  • # of students: 271
  • # of teachers: 21
3
GreatSchools Rating

Jarrell High School

  • Education Level: High
  • # of students: 332
  • # of teachers: 30
5
GreatSchools Rating
 

$253,800$310,200$282,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$979
Property Tax -$553
Property Insurance -$106
HOA -$102
Property Management Fees -$99
CASH FLOW
-$249

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.

$282,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.2%
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$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$979

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6003$1,6004$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 116 Granite Peak Cove Georgetown, TX 1
    • 2 beds 2 baths ∙ 1,397 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,397 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.14
    •  
  • 210 Brenham Pass Georgetown, TX 2
    • 2 beds 2 baths ∙ 1,475 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,475 Sqft ∙ Built 2018
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
  • 204 Essex Lane Georgetown, TX 3
    • 2 beds 2 baths ∙ 1,397 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,397 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.15
    •  
  • 130 Essex Lane Georgetown, TX 4
    • 2 beds 2 baths ∙ 1,397 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,397 Sqft ∙ Built 2006
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.16
    •  
  • 410 Sundance Lane Georgetown, TX 5
    • 2 beds 2 baths ∙ 1,429 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,429 Sqft ∙ Built 2003
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.15
    •  
PROPERTY LISTING DETAILS
Keri Gann
1.512.775.3067
Stacy Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7397775
Last Updated: 01/24/2021
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