Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

21304 Pioneer Cove Cove Lago Vista, TX 78645

3 Beds 2 Baths 1,556 sqft Built 2020

$260,083

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $167.15
  • 7 Days on Market
  • MLS # : 5050771
  • Updated Date : 12/05/2020 at 20:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,556 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 5050771 - Built by Brohn Homes - April completion! ~ This gorgeous 1556 sq ft home is ready for move-in March 2020! This home features built-in stainless-steel appliances, upgraded tile flooring, and 42” kitchen cabinet uppers. The master bath is fully equipped with raised double vanities and an extended walk-in shower. **Photos not of actual home**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Highland Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $135k410k

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

Neighborhood: Highland Lake Estates

NeighborhoodNIR 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
 

$234,075$286,091$260,083

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$960
Property Tax -$608
Property Insurance -$115
HOA -$13
Property Management Fees -$99
CASH FLOW
-$244

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.

$260,083

PROJECTED PRICE

$1,550

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,922

INVESTMENT

$70,922

Down Payment
$65,021
Rehab Estimate
$2,000
Closing Costs
$3,901

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$960

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,021
Loan Amount $195,062
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,5003$1,5504$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 21304 Pioneer Cove Cove Lago Vista, TX 3
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 5207 Thunderbird #b Lago Vista, TX 1
    • 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1999
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.98
    •  
  • 5406 Thunderbird Street Lago Vista, TX 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2018
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 5009 Sundown Street Lago Vista, TX 4
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1998
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 5700 Thunderbird St Lago Vista, TX 5
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2018
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ben Caballero
1.888.872.6006
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5050771
Last Updated: 12/05/2020
BESbswy