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

21501 High Drive Lago Vista, TX 78645

3 Beds 3 Baths 2,200 sqft Built 2021

$399,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $181.36
  • 17 Days on Market
  • MLS # : 1624196
  • Updated Date : 02/23/2021 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full , 1 half
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

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: 78645

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $127k410k

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

Zip Code: 78645

ZipNIR 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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,735

INVESTMENT

$107,735

Down Payment
$99,750
Rehab Estimate
$2,000
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

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
$1,875
1$1,8752$1,9453$2,1604$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 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
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.98
    •  
  • 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
    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
    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
    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
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
PROPERTY LISTING DETAILS
Christopher Watters
Watters International Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1624196
Last Updated: 02/23/2021
BESbswy