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209 Constitution St Liberty Hill, TX 78642

3 Beds 2 Baths 1,525 sqft Built 2020

INVESTimate

$252,900

List Price

$1,620

$1,458 - $1,782

Rent Est.

$263,142  ( +4.05%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $165.84
  • 2 Days on Market
  • MLS # : 6906609
  • Updated Date : 08/25/2020 at 13:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,525 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Fannin is a charming, single-story home in the community of Liberty Parke. This home boasts 3 bedrooms, 2 full baths, an open family room and a private dining room. Stainless-steel appliances, stunning wood cabinetry with crown molding, granite countertops, and an attached two-car garage with a WiFi-enabled garage door opener are just a few of the incredible upgrades you will find inside this home. The Fannin also features a fully fenced backyard and a covered back patio.

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: 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
 

$227,610$278,190$252,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$933
Property Tax -$494
Property Insurance -$113
HOA -$50
Property Management Fees -$130
CASH FLOW
-$100

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.

$252,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.05%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,019

INVESTMENT

$69,019

Down Payment
$63,225
Rehab Estimate
$2,000
Closing Costs
$3,794

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,225
Loan Amount $189,675
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6203$1,6754$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 209 Constitution St Liberty Hill, 2
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.06
    •  
  • 632 Independence Ave Liberty Hill, 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2019
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 121 Presidential Path Liberty Hill, 3
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2019
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.09
    •  
  • 413 Independence Ave Liberty Hill, 4
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 2020
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
  • 305 Independence Ave Liberty Hill, 5
    • 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2019
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
PROPERTY LISTING DETAILS
Mona Hill
1.800.846.3085
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6906609
Last Updated: 08/25/2020
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