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1923 Club Crossing New Braunfels, TX 78130

4 Beds 3 Baths 2,505 sqft Built 2000

$285,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $113.77
  • 6 Days on Market
  • MLS # : 5822439
  • Updated Date : 12/11/2020 at 20:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,505 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Prosper

Listing Agent's Description

Located in Gruene Crossing, this 4 bedroom 3 bath home is now available! No neighbors behind. Enjoy the relaxation of a water view from your own backyard! There is access from your backyard to the walking trails around the fishing pond. Huge master bedroom and closets, walk in pantry with extra storage, dining room and breakfast area, large island and new roof. Newly installed fence, solar panels, carpet, and paint.  Only minutes from downtown.

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

Neighborhood: Gruene Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

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

Neighborhood: Gruene Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* 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
Goodwin Frazier Elementary School Primary Regular 454 29 5
Church Hill Middle School Middle Regular 926 55 8
Canyon High School High Regular 2,341 129 6

Goodwin Frazier Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
5
GreatSchools Rating

Church Hill Middle School

  • Education Level: Middle
  • # of students: 926
  • # of teachers: 55
8
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,341
  • # of teachers: 129
6
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,052
Property Tax -$513
Property Insurance -$172
HOA -$10
Property Management Fees -$99
CASH FLOW
-$46

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,746

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7753$1,8004$1,865
$1,865
RENT COMPS ANALYSIS
  • 1923 Club Crossing New Braunfels, TX 3
    • 4 beds 3 baths ∙ 2,505 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,505 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 842 Camel Back Drive New Braunfels, TX 1
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 2002
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.75
    •  
  • 769 Willow Crossing New Braunfels, TX 2
    • 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 2001
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.68
    •  
  • 2036 Brandywine Dr New Braunfels, TX 4
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.81
    •  
PROPERTY LISTING DETAILS
Crystal Taylor
1.512.775.3101
Realty One Group Prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5822439
Last Updated: 12/11/2020
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