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1224 Leaning Oak Lane Georgetown, TX 78628

4 Beds 3 Baths 2,144 sqft Built 2020

$398,990

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $186.10
  • 3 Days on Market
  • MLS # : 7122143
  • Updated Date : 12/18/2020 at 19:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,144 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready March 2021! added 4th bedroom/full bathroom in lieu of Flex/powder. Design Kitchen, Warm Transitional Design Package, Ember (Light) cabinets. Skip your commute by creating an office in the Magnolia’s flex space. In the kitchen, the island overlooks the large great and dining rooms. The private primary suite features a five-piece bath and impressive walk-in closet. Water Oak offers gorgeous topography, serene hiking trails, a park, and a future amenity center. It’s minutes from convenient shopping at Wolf Ranch and HEB! Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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

Zip Code: 78628

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Zip Code: 78628

ZipNIR 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
Dell Pickett Elementary School Primary Regular 337 28 5
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

Dell Pickett Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 28
5
GreatSchools Rating

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$359,091$438,889$398,990

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,472
Property Tax -$806
Property Insurance -$148
HOA -$54
Property Management Fees -$99
CASH FLOW
-$339

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$398,990

PROJECTED PRICE

$2,240

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
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-$8.0k-$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$107,732

INVESTMENT

$107,732

Down Payment
$99,748
Rehab Estimate
$2,000
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,748
Loan Amount $299,243
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,075

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,171

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9953$2,2404$2,2955$2,500
$2,500
RENT COMPS ANALYSIS
  • 1224 Leaning Oak Lane Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.04
    •  
  • 3313 W State Highway 29 Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1993
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 105 Winding Hollow Cove Georgetown, TX 2
    • 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2020
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.02
    •  
  • 816 Desaix Dr Georgetown, TX 4
    • 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2018
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
  • 112 Cross Mountain Trl Georgetown, TX 5
    • 3 beds 3 baths ∙ 2,398 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,398 Sqft ∙ Built 2018
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
1.512.629.4581
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7122143
Last Updated: 12/18/2020
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