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122 Friendship Oak Drive San Marcos, TX 78666

2 Beds 3 Baths 1,262 sqft Built 2017

$229,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $182.17
  • 19 Days on Market
  • MLS # : 5690881
  • Updated Date : 11/06/2020 at 15:14
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Premier Realty

Listing Agent's Description

Immaculate 2 Bed, 2.5 baths, 2 car detached garage is the perfect place to call home! In the Master Planned community of Blanco Vista, it is an amazing home with all the attention to detail. Open Kitchen to the living room with all the necessary modern updates to include; granite, SS appliances, and breakfast bar. Upstairs has two nice bedrooms with the Master Bedroom having an ensuite bath with a walk-in shower. Lots of light and bright in the whole house. The lower front patio and upper front patio/balcony can view the sunset and enjoy the quiet that this area brings. Lush landscaping to add interest and privacy. This is a must-see for your client. HOA amenities include, community pool, hike and bike trails, fishing pond and an on-site elementary school.

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
Blanco Vista Elementary School Primary Regular 795 53 6
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Blanco Vista Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 53
6
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$848
Property Tax -$472
Property Insurance -$98
HOA -$35
Property Management Fees -$114
CASH FLOW
-$137

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.

$229,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,327

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,434

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,4304$1,500
$1,500
RENT COMPS ANALYSIS
  • 122 Friendship Oak Drive San Marcos, TX 3
    • 2 beds 3 baths ∙ 1,262 Sqft ∙ Built 2017 2 beds 3 baths ∙ 1,262 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.13
    •  
  • 127 Wainscot Oak Way San Marcos, TX 1
    • 2 beds 2 baths ∙ 1,027 Sqft ∙ Built 2016 2 beds 2 baths ∙ 1,027 Sqft ∙ Built 2016
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.17
    •  
  • 139 Gambel Oak Way San Marcos, TX 2
    • 2 beds 2 baths ∙ 1,027 Sqft ∙ Built 2015 2 beds 2 baths ∙ 1,027 Sqft ∙ Built 2015
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.17
    •  
  • 242 Mossycup Drive San Marcos, TX 4
    • 2 beds 2 baths ∙ 1,399 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,399 Sqft ∙ Built 2018
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
PROPERTY LISTING DETAILS
Amy Pietrantone
1.512.787.2145
Texas Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5690881
Last Updated: 11/06/2020
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