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216 Skipping Stone Lane San Marcos, TX 78666

3 Beds 3 Baths 1,696 sqft Built 2021

$249,990

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $147.40
  • 2 Days on Market
  • MLS # : 2807941
  • Updated Date : 01/16/2021 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full , 1 half
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

NO INVESTOR PURCHASES AT THIS TIME. UNDER CONSTRUCTION - EST COMPLETION IN JULY. The Emma is a two-story floorplan offering 1,696 square feet, 3-bedrooms, and 2.5-bathrooms. Walk into the long foyer straight into the large family room overlooking the spacious kitchen and dining nook. The kitchen features granite countertops, black appliances, recessed lighting and a kitchen island. Upstairs you will find the secondary bedrooms, laundry room and the main bedroom, bedroom 1,. The main bedroom, bedroom 1, features a large walk in shower and huge walk in closet. The Emma also features a covered patio and full sod and irrigation. This home includes our HOME IS CONNECTED base package which includes the Alexa Voice control, Front Door Bell, Front Door Deadbolt Lock, Home Hub, Light Switch, and Thermostat.

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: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Bowie Elementary School Primary Regular 748 46 4
Owen Goodnight Middle School Middle Regular 1,043 69 4
San Marcos High School High Regular 2,162 148 3

Bowie Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 46
4
GreatSchools Rating

Owen Goodnight Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 69
4
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,162
  • # of teachers: 148
3
GreatSchools Rating
 

$224,991$274,989$249,990

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$868
Property Tax -$513
Property Insurance -$123
HOA -$19
Property Management Fees -$99
CASH FLOW
$79

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$249,990

PROJECTED PRICE

$1,700

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.13%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,247

INVESTMENT

$68,247

Down Payment
$62,498
Rehab Estimate
$2,000
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,498
Loan Amount $187,493
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$17,961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,700
$1,700
RENT COMPS ANALYSIS
  • 216 Skipping Stone Lane San Marcos, TX 4
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 181 Lake Gln San Marcos, TX 1
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2016
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 173 Tallow Trail San Marcos, TX 2
    • 3 beds 3 baths ∙ 1,839 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,839 Sqft ∙ Built 2016
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 174 Lake Glen San Marcos, TX 3
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2016
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
PROPERTY LISTING DETAILS
Dave Clinton
1.512.270.6196
D.r. Horton, America's Builder
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2807941
Last Updated: 01/16/2021
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