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1608 Highland Court Cedar Park, TX 78613

3 Beds 3 Baths 2,220 sqft Built 1996

$285,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $128.38
  • 6 Days on Market
  • MLS # : 6114691
  • Updated Date : 12/10/2020 at 03:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,220 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Well maintained cul-de-sac home in popular Carriage Hills with an oversized back yard and tons of live oaks! Large downstairs living space with tongue and groove accent wall and wood burning fireplace, large eat in kitchen with ample storage and granite countertops. Formal dining and/or study downstairs. Upstairs is a large second living/loft space, 2 oversized secondary bedrooms with shared bath and the master suite! 2 car garage. A unique find with such a large and private back yard space. MULTIPLE OFFERS - BEST AND FINAL THURSDAY AT 4PM

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

Neighborhood: Cedar Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Cedar Park

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
Giddens Elementary School Primary Regular 537 44 3
Running Brushy Middle School Middle Regular 1,282 80 6
Leander High School High Regular 2,090 135 7

Giddens Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 44
3
GreatSchools Rating

Running Brushy Middle School

  • Education Level: Middle
  • # of students: 1,282
  • # of teachers: 80
6
GreatSchools Rating

Leander High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 135
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,052
Property Tax -$627
Property Insurance -$152
HOA -$10
Property Management Fees -$99
CASH FLOW
-$180

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.

$285,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.3%
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

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,909

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,7853$1,862
$1,862
RENT COMPS ANALYSIS
  • 1608 Highland Court Cedar Park, TX 1
    • 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.79
    •  
  • 1204 Machado Road Cedar Park, TX 2
    • 4 beds 2 baths ∙ 2,133 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,133 Sqft ∙ Built 1996
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.84
    •  
  • 1209 Wood Creek Drive Cedar Park, TX 3
    • 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 1998
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,862
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jenny Cureton
1.512.618.4966
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6114691
Last Updated: 12/10/2020
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