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17403 Deer Creek Skyview Dripping Springs, TX 78620

3 Beds 2 Baths 1,250 sqft Built 2008

$370,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $296.00
  • 4 Days on Market
  • MLS # : 9831149
  • Updated Date : 01/16/2021 at 23:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,250 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Pristine cozy home with NO HOA on 2 lots with tons of privacy! TWO LOTS FOR THE PRICE OF ONE!!! The side lot is 0.221 acres and is perfect for a second home or guest/rental house. Very well kept with modern design. Features include hard tile floors, granite counters, travertine in baths, high ceilings, an open floor plan, and professional landscaping. Carport built off garage area for boat/RV parking. 2 storage sheds, larger one located in the back yard that is decked out with power perfect for an office or he/she-shed. HUGE garden with a high fence & massive trees around the entire property. Walking distance to community park with lakes/volleyball courts/playgrounds. Feeds into highly acclaimed Lake Travis ISD. Hurry before this great home gets away!

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

Neighborhood: Valley Lake Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $120k461k

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

Neighborhood: Valley Lake Hills

NeighborhoodNIR 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
Bee Cave Elementary School Primary Regular 623 39 8
Lake Travis Middle School Middle Regular 1,066 64 10
Lake Travis High School High Regular 2,561 141 8

Bee Cave Elementary School

  • Education Level: Primary
  • # of students: 623
  • # of teachers: 39
8
GreatSchools Rating

Lake Travis Middle School

  • Education Level: Middle
  • # of students: 1,066
  • # of teachers: 64
10
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,285
Property Tax -$643
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
-$374

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.

$370,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.47%

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-$8.0k-$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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8004$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 17403 Deer Creek Skyview Dripping Springs, TX 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.40
    •  
  • 10526 Lake Park Drive Dripping Springs, TX 1
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 2005
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.39
    •  
  • 10217 Longhorn Skyway Dripping Springs, TX 3
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2004
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.48
    •  
  • 10126 Longhorn Skyway Dripping Springs, TX 4
    • 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.35
    •  
  • 10052 Janet Loop Dripping Springs, TX 5
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 2007
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
PROPERTY LISTING DETAILS
John Martin
1.512.853.9742
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9831149
Last Updated: 01/16/2021
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