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205 Purple Mountain Drive Liberty Hill, TX 78642

3 Beds 2 Baths 1,510 sqft Built 2018

$250,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $165.56
  • 3 Days on Market
  • MLS # : 5578130
  • Updated Date : 03/07/2021 at 01:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,510 sqft
  • Baths : 2 full
Listing Agent

Pure Realty

Listing Agent's Description

Showing: SAT 3/6 after 1pm. Contact Owner for showing. Beautiful, clean, and well maintained 3BR/2BA home in Liberty Park Neighborhood. Home features amazing vinyl wood floors, granite countertops, Stanley steel appliances, and an open concept connecting the kitchen, dining area, and living room. Great location with easy access to HWY 183 & TX-29, schools, local restaurants, shopping, and HEB (Coming Soon). Brand new electric stove with 5 yrs warranty. LED Light in the garage and racks mounted on the wall do not convey. Leaseback may be required (3-4 weeks).

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Zip Code: 78642

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Zip Code: 78642

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371926

* 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
 

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

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$868
Property Tax -$488
Property Insurance -$112
HOA -$50
Property Management Fees -$99
CASH FLOW
$32

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

$1,650

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.1%
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

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

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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,6504$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 205 Purple Mountain Drive Liberty Hill, TX 3
    • 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,510 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 129 Presidential Path Liberty Hill, TX 1
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2019
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.09
    •  
  • 605 Independence Avenue Liberty Hill, TX 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2019
    property image
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 413 Independence Avenue Liberty Hill, TX 4
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
  • 128 Presidential Path Liberty Hill, TX 5
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 2019
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.11
    •  
PROPERTY LISTING DETAILS
Carla Tassinari-ayarzagoitia
Pure Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5578130
Last Updated: 03/07/2021
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