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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $181.36
- 3 Days on Market
- MLS # : 1624196
- Updated Date : 02/13/2021 at 01:02
CONSTRUCTION
- Beds : 3
- Floor Size : 2,200 sqft
- Baths : 2 full
Listing Agent
Watters International Realty
Listing Agent's Description
Newly constructed, 2200 SF custom home with beautiful lake views! 3 bedrooms plus a flex room could be used as 4th bedroom, office, library, etc. Open floor plan. tongue and groove wood ceilings, custom cabinets, kitchen island, stone counters, upgraded appliances, huge pantry and double oven. Main level owner's retreat with walk in closet and extended shower. Game room upstairs, Hardwood floors on main level, tile in wet areas, carpet on upper level. Covered 9x20 patio plus two 10x12 storage sheds. Built with 2x6s and super insulated.
SEE MORE
- 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: 78645
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 78645
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,160 |
| EXPENSES | Loan Payment | -$1,386 |
| Property Tax | -$933 | |
| Property Insurance | -$151 | |
| HOA | -$11 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$419
|
||
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.
$399,000
PROJECTED PRICE
$2,160
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.79% |
| Appreciation Year (1-5) | 6.6% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$107,735
LOAN DETAILS
$1,386
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $99,750 |
| Loan Amount | $299,250 |
0.33
YEARS SAVED
$272
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$2,173
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
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21501 High Drive Lago Vista, TX 3
- 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 2021
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- Rent
- Rent Per SQFT
- $2,160
- $0.98
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4007 Rockwood Drive Lago Vista, TX 1
- 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018
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LEASED 06/03/20- Rent
- Rent Per SQFT
- $1,875
- $0.92
-
3924 Outpost Trce Lago Vista, TX 2
- 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1986
![property image]()
LEASED 08/01/20- Rent
- Rent Per SQFT
- $1,945
- $1.00
-
125 Parryi Cove Leander, TX 4
- 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2020
![property image]()
LEASED 12/08/20- Rent
- Rent Per SQFT
- $2,295
- $0.99
-
2301 Redbird Cove Lago Vista, TX 5
- 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2000
![property image]()
LEASED 11/30/20- Rent
- Rent Per SQFT
- $2,300
- $1.04
PROPERTY LISTING DETAILS
Watters International Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 1624196
Last Updated: 02/13/2021
