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214 River Park Lane Georgetown, TX 78626

3 Beds 2 Baths 2,111 sqft Built 2003

$320,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $151.59
  • 4 Days on Market
  • MLS # : 9941025
  • Updated Date : 01/01/2021 at 01:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,111 sqft
  • Baths : 2 full
Listing Agent

Levi Rodgers Real Estate Group

Listing Agent's Description

This exceptional 4 bedroom, 2 bathroom home is located in the tranquil, tree-lined neighborhood of Katy Crossing. This home's spacious, fluid floor plan creates harmoniously integrated spaces perfect for comfortable living and entertaining! Enjoy preparing a delicious meal in the beautiful, open kitchen featuring stainless steel appliances, lots of overhead cabinet space, a middle island, and a walk-in pantry. The adjoining living and dining room boasts vaulted ceilings, lots of windows, a brick fireplace, and direct access to the back patio. The primary bedroom outfitted with bay windows and high ceilings includes an en-suite bathroom, complete with double vanity sinks, a garden tub, a walk-in shower, and a lofty walk-in closet. Other highlights include a sizable fenced backyard, a 2-car garage, and a laundry room with additional storage space. This home is minutes away from San Gabriel River Park, historic downtown Georgetown, schools, shopping, dining, and much more.

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

Neighborhood: Katy Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $115k315k

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

Neighborhood: Katy Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8311816

* 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
Pat Cooper Elementary School Primary Regular 586 40 3
Charles A. Forbes Middle School Middle Regular 735 46 3
Georgetown High School High Regular 1,822 121 5

Pat Cooper Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 40
3
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,181
Property Tax -$628
Property Insurance -$146
HOA -$17
Property Management Fees -$99
CASH FLOW
-$300

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$320,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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-$8.0k-$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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,129

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5753$1,6004$1,6955$1,770
$1,770
RENT COMPS ANALYSIS
  • 214 River Park Lane Georgetown, TX 5
    • 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.84
    •  
  • 1606 Garden Villa Drive Georgetown, TX 1
    • 3 beds 1 baths ∙ 1,818 Sqft ∙ Built 1981 3 beds 1 baths ∙ 1,818 Sqft ∙ Built 1981
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 103 Dogwood Dr Georgetown, TX 2
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2001
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.80
    •  
  • 316 Juniper Dr Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2001
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 210 River Park Ln Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,001 Sqft ∙ Built 2011
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
PROPERTY LISTING DETAILS
Levi Rodgers
1.210.331.7000
Levi Rodgers Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9941025
Last Updated: 01/01/2021
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