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121 Woodridge Canyon Lake, TX 78133

3 Beds 2 Baths 1,288 sqft Built 2017

$215,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $166.93
  • 7 Days on Market
  • MLS # : 2526081
  • Updated Date : 12/17/2020 at 20:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,288 sqft
  • Baths : 2 full
Listing Agent

Century 21 Randall Morris

Listing Agent's Description

This is an adorable home for a young starter family or any investors out there. The home shows the pride in homeownership from the previous owners and is in a very private location with little traffic down the cul de sac road. This home offers a large vaulted ceiling in the living room with an open concept dining room and kitchen. There are Stainless appliances and custom built cabinets with a breakfast bar overlooking the living room/kitchen. There are two guest bedrooms with a bathroom that has tub to ceiling tile surround and is separate from the primary bedroom. The primary bedroom has a coffered ceiling and large closet. Come enjoy the outdoor space that the owners have created with this one. Two built in porch swings surround a pavestone brick fireplace with several trees and shrubs that have been planted. Storage shed in back has power to it.

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: North Canyon Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $78k290k

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

Neighborhood: North Canyon Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8691847

* 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
Rebecca Creek Elementary School Primary Regular 516 34 7
Mountain Valley Middle School Middle Regular 720 45 7
Canyon Lake High School High Regular 920 66 6

Rebecca Creek Elementary School

  • Education Level: Primary
  • # of students: 516
  • # of teachers: 34
7
GreatSchools Rating

Mountain Valley Middle School

  • Education Level: Middle
  • # of students: 720
  • # of teachers: 45
7
GreatSchools Rating

Canyon Lake High School

  • Education Level: High
  • # of students: 920
  • # of teachers: 66
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$793
Property Tax -$333
Property Insurance -$101
HOA -$2
Property Management Fees -$99
CASH FLOW
$111

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$215,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.11%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.32%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$15,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,069

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,440
$1,440
RENT COMPS ANALYSIS
  • 121 Woodridge Canyon Lake, TX 3
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.12
    •  
  • 1065 Tamarack Drive Canyon Lake, TX 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2014
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.77
    •  
  • 1051 Tamarack Drive Canyon Lake, TX 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 2014
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.89
    •  
PROPERTY LISTING DETAILS
Zachary Adkisson
1.512.217.4776
Century 21 Randall Morris
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2526081
Last Updated: 12/17/2020
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