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2021 Cliffbrake Way Georgetown, TX 78626

3 Beds 2 Baths 1,680 sqft Built 2018

$277,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $164.88
  • 4 Days on Market
  • MLS # : 6039038
  • Updated Date : 01/14/2021 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-gt

Listing Agent's Description

Charming family home on a quiet street in Carlson Place! Spacious open concept living area, updated kitchen with gas range and plenty of cook & prep room, multi-use room great for working from home, primary quite is separate from guest rooms, big backyard for play and entertaining, close to many of Georgetown's great amenities, close to road access for work transit.

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

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $120k315k

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

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441816

* 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
James E. Mitchell Elementary School Primary Regular 739 47 2
Charles A. Forbes Middle School Middle Regular 735 46 3
East View High School High Regular 1,418 110 4

James E. Mitchell Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 47
2
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$249,300$304,700$277,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$962
Property Tax -$543
Property Insurance -$122
HOA -$25
Property Management Fees -$99
CASH FLOW
-$71

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.

$277,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,155

INVESTMENT

$79,155

Down Payment
$69,250
Rehab Estimate
$5,750
Closing Costs
$4,155

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,250
Loan Amount $207,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,718

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5353$1,5504$1,5955$1,680
$1,680
RENT COMPS ANALYSIS
  • 2021 Cliffbrake Way Georgetown, TX 5
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.00
    •  
  • 1209 Cliffbrake Way Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2020
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 1013 Cliffbrake Way Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2020
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $1.02
    •  
  • 1428 Cliffbrake Way Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2020
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 520 Staton Street Georgetown, TX 4
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2018
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
PROPERTY LISTING DETAILS
George Bunting
1.512.633.2247
Keller Williams Realty-gt
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6039038
Last Updated: 01/14/2021
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