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2208 Clover Lane Cedar Park, TX 78613

3 Beds 2 Baths 1,258 sqft Built 1993

$219,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $174.09
  • 6 Days on Market
  • MLS # : 2736249
  • Updated Date : 11/27/2020 at 21:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,258 sqft
  • Baths : 2 full
Listing Agent

Watters International Realty

Listing Agent's Description

Great location and schools! This 3 bedroom, 2 bath, 1 story home features tile and vinyl plank flooring, galley style kitchen and a covered patio. Siding has ben replaced with hardy board. Mature trees give the property a nice shade. Easy access to 183 toll road and close to many major retailers and restaurants.

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

Neighborhood: High Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k316k

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

Neighborhood: High Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600170018001900Rent in $7761992

* 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
Knowles Elementary School Primary Regular 792 60 5
Running Brushy Middle School Middle Regular 1,282 80 6
Leander High School High Regular 2,090 135 7

Knowles Elementary School

  • Education Level: Primary
  • # of students: 792
  • # of teachers: 60
5
GreatSchools Rating

Running Brushy Middle School

  • Education Level: Middle
  • # of students: 1,282
  • # of teachers: 80
6
GreatSchools Rating

Leander High School

  • Education Level: High
  • # of students: 2,090
  • # of teachers: 135
7
GreatSchools Rating
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$808
Property Tax -$492
Property Insurance -$98
Property Management Fees -$114
CASH FLOW
-$92

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.

$219,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.6%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,422

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4203$1,5504$1,650
$1,650
RENT COMPS ANALYSIS
  • 2208 Clover Lane Cedar Park, TX 2
    • 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,258 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.13
    •  
  • 2601 Cypress Ln Cedar Park, TX 1
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2002
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.05
    •  
  • 1909 Woodland Drive Cedar Park, TX 3
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1994
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.15
    •  
  • 605 Amaryllis Ave Cedar Park, TX 4
    • 3 beds 3 baths ∙ 1,410 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,410 Sqft ∙ Built 1993
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
PROPERTY LISTING DETAILS
Christopher Watters
1.512.646.0038
Watters International Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2736249
Last Updated: 11/27/2020
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