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1345 Grande Mesa Drive Georgetown, TX 78626

3 Beds 3 Baths 2,881 sqft Built 2020

$335,358

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $116.40
  • 7 Days on Market
  • MLS # : 2760928
  • Updated Date : 12/21/2020 at 21:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,881 sqft
  • Baths : 2 full , 1 half
Listing Agent

Satex Properties, Inc.

Listing Agent's Description

**HOME IS UNDER CONSTRUCTION AND DUE TO BE COMPLETED IN APRIL**

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: 78626

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $120k315k

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

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441816

* 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
Carver Elementary School Primary Regular 429 29 3
George Wagner Middle School Middle Regular NA
East View High School High Regular 1,418 110 4

Carver Elementary School

  • Education Level: Primary
  • # of students: 429
  • # of teachers: 29
3
GreatSchools Rating

George Wagner Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East View High School

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

$301,822$368,894$335,358

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,237
Property Tax -$658
Property Insurance -$189
HOA -$38
Property Management Fees -$99
CASH FLOW
-$321

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.

$335,358

PROJECTED PRICE

$1,900

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$90,870

INVESTMENT

$90,870

Down Payment
$83,840
Rehab Estimate
$2,000
Closing Costs
$5,030

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,237

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,840
Loan Amount $251,519
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,182

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9493$1,9804$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1345 Grande Mesa Drive Georgetown, TX 1
    • 3 beds 3 baths ∙ 2,881 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,881 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.66
    •  
  • 120 Vallecito Drive Georgetown, TX 2
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2011
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,949
    • $0.72
    •  
  • 339 Alamosa Dr Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2016
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.73
    •  
  • 1209 Toltec Trail Georgetown, TX 4
    • 3 beds 3 baths ∙ 2,952 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,952 Sqft ∙ Built 2014
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 341 Grand Junction Trail Georgetown, TX 5
    • 3 beds 3 baths ∙ 2,929 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,929 Sqft ∙ Built 2014
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.80
    •  
PROPERTY LISTING DETAILS
Joe Acosta
1.210.880.5632
Satex Properties, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2760928
Last Updated: 12/21/2020
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