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1293 Hazy Hills Loop Dripping Springs, TX 78620

4 Beds 3 Baths 2,756 sqft Built 2020

INVESTimate

$541,257

List Price

$2,810

$2,560 - $3,060

Rent Est.

$574,923  ( +6.22%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $196.39
  • 6 Days on Market
  • MLS # : 1116365
  • Updated Date : 08/24/2020 at 13:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,756 sqft
  • Baths : 3 full
Listing Agent

Taylor Morrison Realty Of Tx

Listing Agent's Description

MLS# 1116365 - Built by Taylor Morrison - December completion! ~ The Primrose is a spacious home with gorgeous interior details. Follow the foyer into the center and find a gathering room seamlessly connected with a casual dining to create the ideal space for entertaining. For easy access, the owner’s suite is on the 1st floor and features a spacious walk-in closet. The 2nd floor is where you’ll find 3 additional bedrooms for comfort of guests and a *Price does not include decorator options

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: 78620

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k461k

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

Zip Code: 78620

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9972218

* 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
Dripping Springs Elementary School Primary Regular 921 57 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Dripping Springs Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
8
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$487,131$595,383$541,257

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,997
Property Tax -$872
Property Insurance -$182
HOA -$120
Property Management Fees -$225
CASH FLOW
-$586

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.

$541,257

PROJECTED PRICE

$2,810

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.22%
Maintenance Year (1-5) 3.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,433

INVESTMENT

$145,433

Down Payment
$135,314
Rehab Estimate
$2,000
Closing Costs
$8,119

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,314
Loan Amount $405,943
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,811

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,8103$3,150
$3,150
RENT COMPS ANALYSIS
  • 1293 Hazy Hills Loop Dripping Springs, 2
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $1.02
    •  
  • 720 E Creek Dr Dripping Springs, 1
    • 5 beds 2 baths ∙ 2,634 Sqft ∙ Built 1994 5 beds 2 baths ∙ 2,634 Sqft ∙ Built 1994
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 700 W Creek Dr Dripping Springs, 3
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1993
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.15
    •  
PROPERTY LISTING DETAILS
Ben Caballero
1.512.549.6838
Taylor Morrison Realty Of Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1116365
Last Updated: 08/24/2020
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