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1405 Fairhaven Gateway Georgetown, TX 78626

4 Beds 3 Baths 2,485 sqft Built 2018

$305,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $122.74
  • 4 Days on Market
  • MLS # : 6402390
  • Updated Date : 01/30/2021 at 01:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,485 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Must have confirmed appointment with seller to view. Sellers will review offers on Sunday 1/31/2021 at 5pm. Please submit highest and best by then. Desired close date is 3/1/2021.

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
James E. Mitchell Elementary School Primary Regular 739 47 2
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

James E. Mitchell Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 47
2
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
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,059
Property Tax -$598
Property Insurance -$167
HOA -$60
Property Management Fees -$99
CASH FLOW
-$3

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.

$305,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.65%

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) 8.00%
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-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$11,943

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,050

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9803$1,9954$1,9995$2,050
$2,050
RENT COMPS ANALYSIS
  • 1405 Fairhaven Gateway Georgetown, TX 2
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.80
    •  
  • 522 Pinnacle Drive Georgetown, TX 1
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2016
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 348 Shiner Lane Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 2018
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 520 Otto Avenue Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2020
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.83
    •  
  • 216 Kramer Street Georgetown, TX 5
    • 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,393 Sqft ∙ Built 2019
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jessica Dearden
1.512.924.0032
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6402390
Last Updated: 01/30/2021
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