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218 Rush Haven San Marcos, TX 78666

3 Beds 2 Baths 1,380 sqft Built 2008

$214,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $155.72
  • 3 Days on Market
  • MLS # : 3582979
  • Updated Date : 02/28/2021 at 01:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Bhgre Homecity

Listing Agent's Description

Perfect starter home and great opportunity to get into Blanco River Village at this price point! This house would also make a great rental property now or in the future. BRV is nestled along the Blanco river off hwy 21 in San Marcos close enough to town for convenience but just far enough out to enjoy the stars at night. Also quick access to I35 and I10. River access, neighborhood playground and large retention/soccer field are a few perks of owning in BRV. Professionally managed HOA. Well maintained home with great curb appeal, new carpets/paint, window treatments, a nice sized detached 2 car garage and more. Spacious bedrooms, large master/closet/bathroom and cute little backyard landscaped for privacy. All appliances convey with sale.

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
Travis Elementary School Primary Regular 679 41 3
Owen Goodnight Middle School Middle Regular 1,043 69 4
San Marcos High School High Regular 2,162 148 3

Travis Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 41
3
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
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$746
Property Tax -$441
Property Insurance -$105
HOA -$55
Property Management Fees -$99
CASH FLOW
-$136

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$214,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.61%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,348

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3103$1,600
$1,600
RENT COMPS ANALYSIS
  • 218 Rush Haven San Marcos, TX 2
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.95
    •  
  • 936 Cheatham Street San Marcos, TX 1
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1960
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.95
    •  
  • 703 Sturgeon St San Marcos, TX 3
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2008
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
PROPERTY LISTING DETAILS
Lauren Szekelyhidi
Bhgre Homecity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3582979
Last Updated: 02/28/2021
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