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116 Grapevine Lane Georgetown, TX 78633

2 Beds 2 Baths 2,052 sqft Built 2002

$347,950

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $169.57
  • 6 Days on Market
  • MLS # : 2383203
  • Updated Date : 01/22/2021 at 15:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,052 sqft
  • Baths : 2 full
Listing Agent

Era Colonial Real Estate

Listing Agent's Description

Located near the end of a well-placed cul-de-sac, this Sun City Texas Williamson (Trinity) greets you with a front sitting porch. Once inside and off the Foyer resides a Study/Computer Room, an ideal Office-at Home. Ahead, the spacious Great Room is anchored with a gas-log Fireplace flanked by custom built-ins. Crown Molding rims the ceilings, while a trio of shuttered windows reveal the fenced and treed back yard. There, a ribbon of greenbelt adds a nice buffer from the boulevard. Meanwhile, the Dining portion of the Great Room grants full-view glass doors opening onto the terrace-style Extended Covered Patio and back yard scenery. Open to the Great Room, the out-sized Island Kitchen is flush with cabinets and a Pantry Closet, while Corian counters circle the space with pride. The bay-windowed Breakfast Room touts views of the cul-de-sac location. Quietly located at the rear of the home, the Primary Bedroom flaunts another shuttered bay window enlarging this all-important room of the home. The en suite Primary Bath features a jetted tub, a separate shower, dual vanities and a generous Walk-In Closet. A Guest Bedroom and Bath are near the Laundry Room, where a sink and a gas dryer hook-up are options not offered on all homes. Additionally, this home touts a Hobby Room with a wall of custom built-ins. This special extra room is not seen on all homes of this plan. Be sure and see the Extended Garage, another outstanding offering of this very nice choice.

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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
Jo Ann Ford Elementary School Primary Regular 552 32 8
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Jo Ann Ford Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 32
8
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
 

$313,155$382,745$347,950

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,209
Property Tax -$682
Property Insurance -$143
HOA -$102
Property Management Fees -$99
CASH FLOW
-$384

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.

$347,950

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$97,957

INVESTMENT

$97,957

Down Payment
$86,988
Rehab Estimate
$5,750
Closing Costs
$5,219

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,209

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,988
Loan Amount $260,963
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,990

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9254$2,150
$2,150
RENT COMPS ANALYSIS
  • 116 Grapevine Lane Georgetown, TX 2
    • 2 beds 2 baths ∙ 2,052 Sqft ∙ Built 2002 2 beds 2 baths ∙ 2,052 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 102 Sandpiper Cv Georgetown, TX 1
    • 2 beds 2 baths ∙ 1,895 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,895 Sqft ∙ Built 1998
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 209 W Dove Hollow Trail Georgetown, TX 3
    • 2 beds 2 baths ∙ 2,026 Sqft ∙ Built 2001 2 beds 2 baths ∙ 2,026 Sqft ∙ Built 2001
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.95
    •  
  • 231 Whispering Wind Drive Georgetown, TX 4
    • 2 beds 3 baths ∙ 2,097 Sqft ∙ Built 1997 2 beds 3 baths ∙ 2,097 Sqft ∙ Built 1997
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.03
    •  
PROPERTY LISTING DETAILS
Pokey Delwaide
1.512.818.9300
Era Colonial Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2383203
Last Updated: 01/22/2021
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