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1201 Cimarron Court San Marcos, TX 78666

4 Beds 3 Baths 2,584 sqft Built 1998

$339,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $131.19
  • 2 Days on Market
  • MLS # : 6226746
  • Updated Date : 01/09/2021 at 15:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,584 sqft
  • Baths : 2 full , 1 half
Listing Agent

Listingspark

Listing Agent's Description

Nestled at the end of a quiet hilltop cul-de-sac west of Texas State, walking distance to Crocket Elementary, and minutes to downtown San Marcos. A traditional 2 story, with light-filled spacious rooms. Engineered hardwood floors throughout the entry level. Formal living, dining, open kitchen and family room. The kitchen is fully updated. The Upper level has thick, plush new nylon carpet throughout. Remodeled and updated inside and out, fresh paint, wood deck new Owens Corning Architectural Roof.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southwest Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Neighborhood: Southwest Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Crockett Elementary School Primary Regular 574 34 6
Doris Miller Middle School Middle Regular 683 51 3
San Marcos High School High Regular 2,162 148 3

Crockett Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 34
6
GreatSchools Rating

Doris Miller Middle School

  • Education Level: Middle
  • # of students: 683
  • # of teachers: 51
3
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,162
  • # of teachers: 148
3
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,177
Property Tax -$695
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
-$234

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.

$339,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
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$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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9103$1,9504$2,150
$2,150
RENT COMPS ANALYSIS
  • 1201 Cimarron Court San Marcos, TX 2
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.74
    •  
  • 105 Cypress Ct San Marcos, TX 1
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2002
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 1434 Meadow Pkwy San Marcos, TX 3
    • 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2002
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 619 Larue Dr San Marcos, TX 4
    • 3 beds 3 baths ∙ 2,511 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,511 Sqft ∙ Built 1975
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.86
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
1.512.827.2252
Listingspark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6226746
Last Updated: 01/09/2021
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