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215 Bellagio Drive Lakeway, TX 78734

5 Beds 3 Baths 2,963 sqft Built 2012

$625,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $210.93
  • 3 Days on Market
  • MLS # : 4835273
  • Updated Date : 01/31/2021 at 01:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,963 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Zoned to sought after Lake Travis ISD. An amazing home nestled in the heart of Lakeway! Quiet, tight knit community with amazing sunset views. No thru traffic! Close to the lake and to the pool which is convenient to cool off during the summer. Spacious kitchen great for cooking and hosting. LOW utility bill, 3 thermostats to 1 unit. Built in alarm system with sensors on all doors + windows, plus fresh paint and carpet throughout. Enjoy the jacuzzi tub and private back patios with no neighbors! 5 minutes to restaurants, galleria shopping and much more!

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

Neighborhood: North Lakeway Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k489k

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

Neighborhood: North Lakeway Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9973073

* 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
Lake Travis Elementary School Primary Regular 888 58 8
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Lake Travis Elementary School

  • Education Level: Primary
  • # of students: 888
  • # of teachers: 58
8
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$2,171
Property Tax -$1,149
Property Insurance -$194
HOA -$72
Property Management Fees -$99
CASH FLOW
-$735

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.

$625,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,970

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,849
1$2,8492$2,9503$2,9954$3,2005$3,400
$3,400
RENT COMPS ANALYSIS
  • 215 Bellagio Drive Lakeway, TX 2
    • 5 beds 3 baths ∙ 2,963 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,963 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.00
    •  
  • 310 Bellagio Drive Lakeway, TX 1
    • 5 beds 4 baths ∙ 3,127 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,127 Sqft ∙ Built 2010
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,849
    • $0.91
    •  
  • 114 Paragon Court Lakeway, TX 3
    • 4 beds 4 baths ∙ 3,143 Sqft ∙ Built 1986 4 beds 4 baths ∙ 3,143 Sqft ∙ Built 1986
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.95
    •  
  • 210 Clubhouse Drive Lakeway, TX 4
    • 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2005
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
  • 216 Bellagio Drive Lakeway, TX 5
    • 4 beds 4 baths ∙ 3,028 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,028 Sqft ∙ Built 2009
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.12
    •  
PROPERTY LISTING DETAILS
Katie Jackson
1.512.627.1625
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4835273
Last Updated: 01/31/2021
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