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207 Sawtooth Mountain Way Dripping Springs, TX 78620

3 Beds 2 Baths 1,655 sqft Built 2020

$381,990

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $230.81
  • 3 Days on Market
  • MLS # : 4981196
  • Updated Date : 12/18/2020 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! Classic White Interior Package, Corner lot, Large Covered Patio, Whole House Blinds. Use the Brazos’ flex space as a formal dining room or purpose it into an home office instead. Clear sight lines from the kitchen through the great room bring everyone together, while the cozy pocket office lends privacy. Amenities will include an amenity center with a pool, splash pad and playground, plus trails with connectivity to the adjacent Founders Memorial Park. Schools located in award-winning Dripping Spring ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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: 78620

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k461k

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

Zip Code: 78620

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9972218

* 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
Dripping Springs Elementary School Primary Regular 921 57 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Dripping Springs Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
8
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$343,791$420,189$381,990

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,409
Property Tax -$656
Property Insurance -$120
HOA -$45
Property Management Fees -$99
CASH FLOW
-$180

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.

$381,990

PROJECTED PRICE

$2,150

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.2%
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$6.0k$8.0k$10k

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$103,227

INVESTMENT

$103,227

Down Payment
$95,498
Rehab Estimate
$2,000
Closing Costs
$5,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,409

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,498
Loan Amount $286,493
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,629

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,185

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,1503$2,200
$2,200
RENT COMPS ANALYSIS
  • 207 Sawtooth Mountain Way Dripping Springs, TX 2
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.30
    •  
  • 233 Spanish Star Trl Dripping Springs, TX 1
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2017
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.21
    •  
  • 600 Grand Prairie Cir Dripping Springs, TX 3
    • 4 beds 2 baths ∙ 1,535 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,535 Sqft ∙ Built 1997
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.43
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
1.512.629.4581
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4981196
Last Updated: 12/18/2020
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