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20504 Bear Road Lago Vista, TX 78645

3 Beds 3 Baths 2,436 sqft Built 2016

$375,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $153.94
  • 4 Days on Market
  • MLS # : 6652841
  • Updated Date : 02/06/2021 at 08:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,436 sqft
  • Baths : 2 full , 1 half
Listing Agent

David Brodsky Properties

Listing Agent's Description

A beautiful custom homed tucked into the heart of Lago Vista with quality upgrades galore. Enjoy an oversized corner lot offering a one story layout that suits all your needs. This 3 bedroom/2.5 bathroom includes a private study, spacious covered front porch, huge 2 car garage, extended side drive, and an outdoor backyard living area for entertaining. The home feels truly custom as you take in the quality and attention to detail. Features include no carpet, knotty alder wood cabinetry/interior doors, iron access doors, custom window treatments (partially electric), sprinkler system, utility cabinets/sink, and a frameless master shower. Located near LVPOA amenities and the Lago Vista Golf Course. A must see!

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: 78645

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $127k410k

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

Zip Code: 78645

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
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,303
Property Tax -$877
Property Insurance -$164
HOA -$13
Property Management Fees -$99
CASH FLOW
-$15

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.

$375,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.6%
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-$6.0k-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$13,637

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,686

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4404$2,700
$2,700
RENT COMPS ANALYSIS
  • 20504 Bear Road Lago Vista, TX 3
    • 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.00
    •  
  • 2608 Franklin Cv Lago Vista, TX 1
    • 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,329 Sqft ∙ Built 1994
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 20536 Highland Lake Drive Lago Vista, TX 2
    • 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 Dr 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
Brittney Heffernan
David Brodsky Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6652841
Last Updated: 02/06/2021
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