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209 Field Corn Lane San Marcos, TX 78666

3 Beds 2 Baths 1,695 sqft Built 2016

$275,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $162.24
  • 3 Days on Market
  • MLS # : 3186890
  • Updated Date : 02/27/2021 at 21:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,695 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

Extraordinary home with many upgrades. 3 bedrooms and a flex room, which can be a formal dining area, a study, a playroom, anything you wish. This flex room is just off the foyer and is separated from the foyer by a sliding barn door. The living area features a fireplace with rock-looking tile surround, perfect for chilly night gatherings. The living room flows effortlessly into the dining are and the kitchen, making this floorplan perfect for entertaining, or just for day to day living. The many windows in this home allow natural light to flow through most rooms. The dining area features a marvelous shiplap wall. The resident chef will delight in the kitchen, with a gas range, stainless steel appliances, wood-look laminate floors (in all of the main living areas), and a delightful breakfast bar, perfect for that quick bowl of cereal. The Owners Suite is spacious, and the ensuite bath is a beautiful combination of dark and light tones. Featuring a garden tub, separate shower, and frosted window for both light and privacy, you will feel like you're at a spa. The 2 secondary bedrooms share an equally elegant bath. Outside is a covered patio with extended unpaved areas on either side. Currently, one side has a picnic table and umbrella, and the other side has a firepit for ghost stories and S'mores. A raised garden area in one corner is perfect for showing off your gardening skills. Located not far from San Marcos, you have easy access to shopping, dining, entertainment, a 1st class university, and the famous outlet mall!

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: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Blanco Vista Elementary School Primary Regular 795 53 6
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Blanco Vista Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 53
6
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$955
Property Tax -$564
Property Insurance -$122
HOA -$35
Property Management Fees -$99
CASH FLOW
$14

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$13,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,907

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7903$1,7954$1,825
$1,825
RENT COMPS ANALYSIS
  • 209 Field Corn Lane San Marcos, TX 2
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.06
    •  
  • 317 Hay Barn St San Marcos, TX 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2017
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
  • 217 Silo Street San Marcos, TX 3
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2011
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.14
    •  
  • 226 Hay Barn Street San Marcos, TX 4
    • 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2013
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.06
    •  
PROPERTY LISTING DETAILS
Lisa Mcguire
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3186890
Last Updated: 02/27/2021
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