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20104 Cartier Cove Lago Vista, TX 78645

3 Beds 2 Baths 2,105 sqft Built 1994

$365,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $173.40
  • 3 Days on Market
  • MLS # : 5328181
  • Updated Date : 01/29/2021 at 17:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,105 sqft
  • Baths : 2 full
Listing Agent

1431 Real Estate

Listing Agent's Description

Custom built home built by Silverton with attention to detail for the client. Extra large closets, large bedrooms, and great living area open to kitchen and dining area. Enjoy the huge deck on the rear of the property for added living space and hill country views. Primary bedroom has sitting area, Primary bath has dressing table, separate shower and jetted tub and a closet to die for. Second bath has separate tub/toilet area. Third bedroom is currently used as office but has closet for bedroom use. Kitchen with breakfast bar, cooktop, microwave and oven. Walk in pantry and builtins complete this area. Utility room with washer/dryer and extra refrigerator to stay. Private drive to 2 car garage and extra golf cart garage. The owner also added an additional driveway for boat or RV parking. This private property offers access to all the Lago Vista parks, including a place to dock your boat, enjoy the water, picnic, play golf, a library, play tennis or pickleball, and so much more. Residential Service Contract provided by seller. Everything you need is ready for a new owner.

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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: Highland Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $135k410k

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

Neighborhood: Highland Lake Estates

NeighborhoodNIR 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
Lago Vista Elementary School Primary Regular 526 34 5
Lago Vista Middle School Middle Regular 398 26 6
Lago Vista High School High Regular 442 29 7

Lago Vista Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 34
5
GreatSchools Rating

Lago Vista Middle School

  • Education Level: Middle
  • # of students: 398
  • # of teachers: 26
6
GreatSchools Rating

Lago Vista High School

  • Education Level: High
  • # of students: 442
  • # of teachers: 29
7
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,268
Property Tax -$853
Property Insurance -$146
HOA -$13
Property Management Fees -$99
CASH FLOW
-$278

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.

$365,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,294

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,1003$2,4004$2,700
$2,700
RENT COMPS ANALYSIS
  • 20104 Cartier Cove Lago Vista, TX 2
    • 3 beds 2 baths ∙ 2,105 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,105 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 4007 Rockwood Drive Lago Vista, TX 1
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.92
    •  
  • 20536 Highland Lake Dr Lago Vista, TX 3
    • 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 2020
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 20504 High Drive Lago Vista, TX 4
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2017
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.18
    •  
PROPERTY LISTING DETAILS
Karen Eckermann
1.512.705.7708
1431 Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5328181
Last Updated: 01/29/2021
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