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1304 Rowan Drive Georgetown, TX 78628

4 Beds 3 Baths 2,109 sqft Built 2013

$319,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $151.68
  • 3 Days on Market
  • MLS # : 8948039
  • Updated Date : 12/05/2020 at 19:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,109 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Charming four bedroom, two and one half bathroom home with an open floor plan and high ceilings showcasing a stone accent wall in the living/kitchen area. The home also features a secluded study/office with glass french doors, a gourmet kitchen with a gas cooktop, stainless steel appliances and a large master suite with an ensuite bathroom that has a separate shower and garden tub. This home is complete with mature trees, a large outdoor covered patio with a beautiful fireplace that is perfect for entertaining. Located across the street from the park and down the street from the elementary school, this wonderful location make this property ideal for buyers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Georgetown Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Georgetown Village

NeighborhoodNIR 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
Raye Mccoy Elementary School Primary Regular 558 38 6
Charles A. Forbes Middle School Middle Regular 735 46 3
Georgetown High School High Regular 1,822 121 5

Raye Mccoy Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 38
6
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,180
Property Tax -$627
Property Insurance -$146
HOA -$8
Property Management Fees -$99
CASH FLOW
-$101

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.

$319,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 3.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,8503$1,9004$1,9505$1,960
$1,960
RENT COMPS ANALYSIS
  • 1304 Rowan Drive Georgetown, TX 5
    • 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.93
    •  
  • 411 Tascate Street Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2010
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.88
    •  
  • 231 Tascate Street Georgetown, TX 2
    • 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,025 Sqft ∙ Built 2013
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 126 Hickory Lane Georgetown, TX 3
    • 3 beds 3 baths ∙ 2,163 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,163 Sqft ∙ Built 1999
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 1003 Elmwood Drive Georgetown, TX 4
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2006
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mark Chambers
1.210.867.3186
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8948039
Last Updated: 12/05/2020
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