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152 Iron Rail Road Dripping Springs, TX 78620

3 Beds 2 Baths 1,655 sqft Built 2017

$345,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $208.46
  • 3 Days on Market
  • MLS # : 6545093
  • Updated Date : 01/15/2021 at 13:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Magnolia Realty

Listing Agent's Description

Premier location right in the heart of Dripping Springs. Convenient in-town living with the open natural beauty of Founders Park, 32 acres right beyond your backyard! Walk/bike to the DSYSA sports fields, Founders Park pool/playgrounds, Pound House Farmstead, the future site of Dripping Springs Skate Park, and historic Mercer Street. Over 50 retail outlets all within a half mile radius of your home. This energy-efficient 3/2 features a rare, one-story open floorplan, fenced-in backyard, and designated study/playroom with a custom-built barn door! EnergyStar certified features include spray foam insulation, UV Blocking/Low E windows, and water-saving fixtures. Now is the time to call Texas Heritage Village your home!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,198
Property Tax -$593
Property Insurance -$120
HOA -$45
Property Management Fees -$99
CASH FLOW
-$65

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.

$345,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.2%
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-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9754$1,990
$1,990
RENT COMPS ANALYSIS
  • 152 Iron Rail Road Dripping Springs, TX 4
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.20
    •  
  • 221 Spanish Star Trail Dripping Springs, TX 1
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2017
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.13
    •  
  • 430 Old Fitzhugh Road #6 Dripping Springs, TX 2
    • 3 beds 3 baths ∙ 1,501 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,501 Sqft ∙ Built 2011
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.30
    •  
  • 233 Spanish Star Trl Dripping Springs, TX 3
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2017
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.21
    •  
PROPERTY LISTING DETAILS
Susie Martin
1.512.829.7928
Magnolia Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6545093
Last Updated: 01/15/2021
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