Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

17701 Westlake Drive Dripping Springs, TX 78620

3 Beds 2 Baths 1,225 sqft Built 2019

$339,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
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

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: Twin Lake Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $131k461k

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

Neighborhood: Twin 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
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

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

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

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
$1,640
1$1,6402$1,7003$1,7954$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 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
Craig Gosser
1.512.839.1596
Jerry Fullerton Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2239196
Last Updated: 01/08/2021
BESbswy