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217 Tributary Way Bastrop, TX 78602

3 Beds 3 Baths 1,858 sqft Built 2020

$257,990

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $138.85
  • 5 Days on Market
  • MLS # : 7969957
  • Updated Date : 11/20/2020 at 14:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,858 sqft
  • Baths : 2 full , 1 half
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

UNDER CONSTRUCTION - EST. COMPLETION IN FEB 2021. New Construction. The Florence is a two-story floorplan offering 1,858 square feet, 3-bedrooms, and 2.5-bathrooms. Walk into the long foyer straight into the spacious overlooking the dining area and the family room. The kitchen features granite countertops, tile backsplash, stainless steel appliances, recessed lighting and a kitchen island. The main bedroom, bedroom 1, is located off the dining room and features a large walk in shower and huge walk in closet. Upstairs you will find the secondary bedrooms, and a large game room. The Florence 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 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: Pecan Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k298k

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

Neighborhood: Pecan Park

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7131723

* 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
Mina Elementary School Primary Regular 592 39 5
Bastrop Middle School Middle Regular 707 48 4
Bastrop High School High Regular 1,253 87 4

Mina Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 39
5
GreatSchools Rating

Bastrop Middle School

  • Education Level: Middle
  • # of students: 707
  • # of teachers: 48
4
GreatSchools Rating

Bastrop High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 87
4
GreatSchools Rating
 

$232,191$283,789$257,990

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$952
Property Tax -$539
Property Insurance -$132
HOA -$35
Property Management Fees -$134
CASH FLOW
-$111

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.

$257,990

PROJECTED PRICE

$1,680

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,367

INVESTMENT

$70,367

Down Payment
$64,498
Rehab Estimate
$2,000
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,498
Loan Amount $193,493
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,7003$1,7004$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 217 Tributary Way Bastrop, TX 1
    • 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.90
    •  
  • 107 Maynard Street Bastrop, TX 2
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1969
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 165 Haliimaile Lane Bastrop, TX 3
    • 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2001
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 124 Crooked Trail Bastrop, TX 4
    • 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,972 Sqft ∙ Built 2018
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 102 Haliimaile Ln Bastrop, TX 5
    • 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,061 Sqft ∙ Built 2008
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
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 #: 7969957
Last Updated: 11/20/2020
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