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PROPERTY INFO
FACTS
- Single Family
- Built In 2019
- Price/Sqft : $276.73
- 4 Days on Market
- MLS # : 2239196
- Updated Date : 01/08/2021 at 03:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,225 sqft
- Baths : 2 full
Listing Agent
Jerry Fullerton Realty
Listing Agent's Description
3 Bedroom,2 bath home with Lake Travis Schools! Back deck overlooking the canyon. Open floor plan with high ceilings, recessed lighting, living room w/fireplace. Kitchen quartz counters. Large laundry room. Master bdr w/double vanity in bath & walk-in closet. Community Park & Lake vol. w/BB grills, benches, playscape, volleyball area & hike and bike trails. No mandatory HOA, Voluntary $125 per year. Nearby Hamilton Pool, Lake Travis, Hill Country Galleria & Baylor Scott White Hospital. Virtual Staging.
SEE MORE
- #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: Twin Lake Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Twin Lake Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,640 |
| EXPENSES | Loan Payment | -$1,177 |
| Property Tax | -$589 | |
| Property Insurance | -$96 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$321
|
||
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.
$339,000
PROJECTED PRICE
$1,640
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$95,585
LOAN DETAILS
$1,177
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $84,750 |
| Loan Amount | $254,250 |
0.67
YEARS SAVED
$880
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,640
LIST RENT -
$1.34
LIST RENT PER SQFT
-
$1,663
COMP ESTIMATED VALUE -
$1.36
COMP AVG. RENT PER SQFT
Comps Range
-
17701 Westlake Drive Dripping Springs, TX 1
- 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 2019
- Rent
- Rent Per SQFT
- $1,640
- $1.34
-
10526 Lake Park Drive Dripping Springs, TX 2
- 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
-
10126 Longhorn Skwy Dripping Springs, TX 3
- 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,374 Sqft ∙ Built 2004
LEASED 09/23/19- Rent
- Rent Per SQFT
- $1,795
- $1.31
-
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
1.512.839.1596
Jerry Fullerton Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 2239196
Last Updated: 01/08/2021
