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20606 Falcon Lago Vista, TX 78645

4 Beds 2 Baths 1,978 sqft Built 2019

$329,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $166.33
  • 6 Days on Market
  • MLS # : 3334204
  • Updated Date : 10/29/2020 at 21:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,978 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

This 1 story beauty contains one of the best views on the street and is a must see! The bright and open floor plan is ideal for relaxed entertaining, or working from home. Features include a spacious living area which flows into a modern kitchen containing a large center island with breakfast bar seating, SS appliances, light granite counter tops and a herringbone pattern back splash. Retreat to a private primary bedroom with dual sinks plus large walk-in shower. Optional 4th bedroom with no closet is extremely expansive and would also make for an ideal flex or home office space. Enjoy all of the Lago Vista amenities including waterfront parks, boat launch ramp, marina, fishing well, clubhouse, meeting rooms, community pool, golf courses, tennis courts, sports fields and exercise facility.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,214
Property Tax -$769
Property Insurance -$138
HOA -$13
Property Management Fees -$155
CASH FLOW
-$349

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.

$329,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.59%

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) 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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$89,185

INVESTMENT

$89,185

Down Payment
$82,250
Rehab Estimate
$2,000
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,884

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8753$1,9404$1,945
$1,945
RENT COMPS ANALYSIS
  • 20606 Falcon Lago Vista, TX 3
    • 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.98
    •  
  • 21000 National Drive Lago Vista, TX 1
    • 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1999
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.89
    •  
  • 4007 Rockwood Drive Lago Vista, TX 2
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.92
    •  
  • 3924 Outpost Trce Lago Vista, TX 4
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1986
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jade Young
1.512.848.9953
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3334204
Last Updated: 10/29/2020
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