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161 Lakewood Drive Granite Shoals, TX 78654

4 Beds 2 Baths 2,006 sqft Built 2000

$389,900

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $194.37
  • 2 Days on Market
  • MLS # : 7100722
  • Updated Date : 03/07/2021 at 04:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,006 sqft
  • Baths : 2 full
Listing Agent

Jbgoodwin Realtors Wl

Listing Agent's Description

Live, Love, Lake~Amazing opportunity to live within walking distance to LBJ without paying lakefront prices. HUGE 1.9 ACRE lot! Lovely wildlife will welcome you home. Deer run care-free on the property where you can enjoy sitting on the porch to watch. If you are looking to build near the lake, you are in luck. This property can be subdivided-investors' dream! Are you up for fishing or boating? There is a public boat ramp right down the street! Just in time for summer days on the lake and summer evenings on the porch! Don't miss out on this dream come true! Only about an hour from Austin too!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Zip Code: 78654

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $62k264k

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

Zip Code: 78654

No Data Available.

* 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
Highland Lakes Elementary School Primary Regular 587 42 4
Marble Falls Middle School Middle Regular 889 57 4
Marble Falls High School High Regular 1,165 80 6

Highland Lakes Elementary School

  • Education Level: Primary
  • # of students: 587
  • # of teachers: 42
4
GreatSchools Rating

Marble Falls Middle School

  • Education Level: Middle
  • # of students: 889
  • # of teachers: 57
4
GreatSchools Rating

Marble Falls High School

  • Education Level: High
  • # of students: 1,165
  • # of teachers: 80
6
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,354
Property Tax -$716
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
$2

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$389,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$12k

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $3,096

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,310
1$2,3102$2,5003$4,500
$4,500
RENT COMPS ANALYSIS
  • 161 Lakewood Drive Granite Shoals, TX 1
    • 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.15
    •  
  • 1532 Hill Circle South Dr Granite Shoals, TX 2
    • 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,096 Sqft ∙ Built 2012
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.19
    •  
  • 1506 Hilltop Drive Granite Shoals, TX 3
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2014
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.25
    •  
PROPERTY LISTING DETAILS
Diana Trimino
Jbgoodwin Realtors Wl
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7100722
Last Updated: 03/07/2021
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