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205 Merrick Road Georgetown, TX 78628

4 Beds 3 Baths 2,473 sqft Built 2020

$326,990

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $132.22
  • 3 Days on Market
  • MLS # : 6607118
  • Updated Date : 12/18/2020 at 13:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,473 sqft
  • Baths : 3 full
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

UNDER CONSTRUCTION - EST COMPLETION IN MAY/JUNE 2021. Detached condo home with front yard mowed included in HOA dues. View of pond off the rear of the home. Open floor plan with 9 foot ceilings, vinyl plank flooring in all main floor living areas. Large Bedroom 1. Access to laundry room from large bedroom 1 closet. Silestone countertops with undermount sink, decorative backsplash and stainless-steel gas appliances. 36' kitchen cabinets, Smart Home package, full sod and irrigation. Gutters included. Resort style amenities included in the exclusive Rancho Sienna Community.

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: 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
Bill Burden Elementary School Primary Regular 674 47 7
Liberty Hill Junior High School Middle Regular 501 34 8
Liberty Hill High School High Regular 1,015 63 6

Bill Burden Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 47
7
GreatSchools Rating

Liberty Hill Junior High School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 34
8
GreatSchools Rating

Liberty Hill High School

  • Education Level: High
  • # of students: 1,015
  • # of teachers: 63
6
GreatSchools Rating
 

$294,291$359,689$326,990

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,206
Property Tax -$661
Property Insurance -$166
HOA -$159
Property Management Fees -$99
CASH FLOW
$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$326,990

PROJECTED PRICE

$2,330

PROJECTED RENT

0.71%

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) 3.00%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$88,652

INVESTMENT

$88,652

Down Payment
$81,748
Rehab Estimate
$2,000
Closing Costs
$4,905

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,748
Loan Amount $245,243
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,325

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3003$2,3004$2,3005$2,330
$2,330
RENT COMPS ANALYSIS
  • 205 Merrick Road Georgetown, TX 5
    • 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.94
    •  
  • 104 San Matteo Street Georgetown, TX 1
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2014
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.97
    •  
  • 200 Santa Maria Street Georgetown, TX 2
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2018
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.95
    •  
  • 212 Montauk Loop Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2020
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
  • 321 Penna Lane Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2016
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dave Clinton
1.512.270.6196
D.r. Horton, America's Builder
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6607118
Last Updated: 12/18/2020
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