Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

121 Wedgewood Way San Marcos, TX 78666

4 Beds 3 Baths 2,146 sqft Built 2016

$244,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $114.12
  • 2 Days on Market
  • MLS # : 2012665
  • Updated Date : 11/14/2020 at 22:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,146 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nitya Realty

Listing Agent's Description

You'll love this recently renovated, professionally-designed, immaculate, two story house with 4 bedrooms 2.5 baths, generous living space and stylish finishes, you'll enjoy a perfect setting for relaxing and entertaining. Beautiful floors and covered deck, and a backyard pefect for entertaining. Other special highlights include attached 2 car garage and fully fenced yard.

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: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR 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
Bowie Elementary School Primary Regular 748 46 4
Owen Goodnight Middle School Middle Regular 1,043 69 4
San Marcos High School High Regular 2,162 148 3

Bowie Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 46
4
GreatSchools Rating

Owen Goodnight Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 69
4
GreatSchools Rating

San Marcos High School

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

$220,410$269,390$244,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$904
Property Tax -$509
Property Insurance -$148
HOA -$19
Property Management Fees -$140
CASH FLOW
$30

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.

$244,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.71%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$14,369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7503$1,920
$1,920
RENT COMPS ANALYSIS
  • 121 Wedgewood Way San Marcos, TX 2
    • 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 213 Lake Glen San Marcos, TX 1
    • 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2016
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.88
    •  
  • 101 Tallow Trl San Marcos, TX 3
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2017
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.82
    •  
PROPERTY LISTING DETAILS
Farhan Ajanee
1.832.557.5580
Nitya Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2012665
Last Updated: 11/14/2020
BESbswy