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2050 Lohmans Spur Road #1901 Lakeway, TX 78734

3 Beds 4 Baths 1,850 sqft Built 2020

$499,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $269.73
  • 8 Days on Market
  • MLS # : 4499685
  • Updated Date : 01/17/2021 at 19:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Brandon Miller Group, Llc

Listing Agent's Description

The Landing is a private enclave of new construction villas in the heart of Lakeway, minutes from The Galleria and Lake Travis. Luxury finishes and engaging amenities combine with a hill country backdrop to create an inspired community for the discerning buyer. Amenities include pool, outdoor summer kitchen, fireplace, communal dining area & fitness clubhouse.

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

Neighborhood: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k540k

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

Neighborhood: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9972987

* 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
Lakeway Elementary School Primary Regular 701 42 9
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Lakeway Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 42
9
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,733
Property Tax -$886
Property Insurance -$131
HOA -$218
Property Management Fees -$99
CASH FLOW
-$598

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.

$499,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,235

INVESTMENT

$134,235

Down Payment
$124,750
Rehab Estimate
$2,000
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$95

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,442

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4703$2,5904$2,5905$2,625
$2,625
RENT COMPS ANALYSIS
  • 2050 Lohmans Spur Road #1901 Lakeway, TX 2
    • 3 beds 4 baths ∙ 1,850 Sqft ∙ Built 2020 3 beds 4 baths ∙ 1,850 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.34
    •  
  • 15317 Origins Lane #203 Austin, TX 1
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2008
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.20
    •  
  • 108 Evolutions Path Austin, TX 3
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2015
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.36
    •  
  • 211 Darwins Way Austin, TX 4
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2015
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.36
    •  
  • 210 Darwins Way Austin, TX 5
    • 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,935 Sqft ∙ Built 2015
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,625
    • $1.36
    •  
PROPERTY LISTING DETAILS
Jonathan Mceowen
1.214.686.6221
The Brandon Miller Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4499685
Last Updated: 01/17/2021
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