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1907 Thornton Lane Georgetown, TX 78628

4 Beds 3 Baths 1,695 sqft Built 1981

$250,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $147.49
  • 5 Days on Market
  • MLS # : 1475823
  • Updated Date : 11/02/2020 at 16:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,695 sqft
  • Baths : 3 full
Listing Agent

Commercial Market Exchange Llc

Listing Agent's Description

Do not miss this wonderful one story home in a well established neighborhood. Home located in a very convenient area with great access, also goes to acclaimed Georgetown ISD! Home boasts a large yard with mature trees, nice sized front and back porch, and no HOA! Home has 2 large master bedrooms, and 2 spare bedrooms. Recent upgrades include triple pane windows, new shingles, tankless water heater, blow in insulation, granite counters, kitchen cabinets, subway tile backsplash in kitchen and master bath, and many more! Don't let this one slip by!

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

Zip Code: 78628

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Zip Code: 78628

ZipNIR 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
Frost Elementary School Primary Regular 431 33 2
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Frost Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 33
2
GreatSchools Rating

Douglas Benold Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 53
5
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$922
Property Tax -$490
Property Insurance -$122
Property Management Fees -$135
CASH FLOW
$20

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.

$250,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5753$1,6254$1,690
$1,690
RENT COMPS ANALYSIS
  • 1907 Thornton Lane Georgetown, TX 4
    • 4 beds 3 baths ∙ 1,695 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,695 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.00
    •  
  • 408 Power Road Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1978
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 905 Parker Cir Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1980
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.94
    •  
  • 205 Golden Oaks Dr Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1981
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.02
    •  
PROPERTY LISTING DETAILS
Mark Taylor
1.512.940.3948
Commercial Market Exchange Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1475823
Last Updated: 11/02/2020
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