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124 Belford Street Georgetown, TX 78628

3 Beds 2 Baths 2,332 sqft Built 2018

$399,500

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $171.31
  • 4 Days on Market
  • MLS # : 8030347
  • Updated Date : 11/06/2020 at 01:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,332 sqft
  • Baths : 2 full
Listing Agent

Bramlett Residential

Listing Agent's Description

Fantastic opportunity to buy a charming home in Wolf Ranch. This almost new construction features an amazing open floor plan, lots of natural lighting, hardwood floors, high ceilings, fabulous master bathroom, open living, dining & family room. The open kitchen is great for family gatherings and the backyard is great for BBQing with an outdoor kitchen & an additional patio w/ pergola! Easy access to tons of shops and restaurants.

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

Neighborhood: Wolf Ranch

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Wolf Ranch

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
 

$359,550$439,450$399,500

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,474
Property Tax -$783
Property Insurance -$158
HOA -$91
Property Management Fees -$184
CASH FLOW
-$390

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$399,500

PROJECTED PRICE

$2,300

PROJECTED RENT

0.58%

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) 8.00%
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-$10k-$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$111,618

INVESTMENT

$111,618

Down Payment
$99,875
Rehab Estimate
$5,750
Closing Costs
$5,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,474

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,875
Loan Amount $299,625
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$454

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,151

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,3003$2,3004$2,400
$2,400
RENT COMPS ANALYSIS
  • 124 Belford Street Georgetown, TX 3
    • 3 beds 2 baths ∙ 2,332 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,332 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 105 River Hills Dr Georgetown, TX 1
    • 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 1985
    property image
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.84
    •  
  • 210 Cassidy Drive Georgetown, TX 2
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1995
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 421 Granite Rock Lane Georgetown, TX 4
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2018
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Bailey Moran
1.512.777.0977
Bramlett Residential
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8030347
Last Updated: 11/06/2020
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