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2216 Limestone Lake Drive Georgetown, TX 78633

4 Beds 4 Baths 2,328 sqft Built 2020

$330,105

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $141.80
  • 4 Days on Market
  • MLS # : 9266664
  • Updated Date : 12/10/2020 at 23:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,328 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century Communities - Crotx

Listing Agent's Description

Popular for its thoughtful design, the Walnut boasts a wide-open main-floor layout that connects the great room, kitchen and dining area. The kitchen offers a generous walk-in corner pantry and a center island, plus a bright window that provides natural light and overlooks a relaxing covered patio. Enjoy extended wood-look tile throughout the first floor in common areas, and the stylish, designer-selected 42" painted white cabinets, subway tile backsplash and white quartz countertops in the kitchen. Off the foyer, a flex room can be used as a personal library, a study, or even a guest room- you choose!. On the second floor, you’ll find a convenient laundry room, plus access to the game room. The second floor also includes a full hall bath with proximity to the game room and 3 secondary bedrooms plus full bath. Completing the plan, an oversized primary bedroom features a large private bath with a lavish walk-in shower and roomy walk-in closet. Upgrades in this home include the 4th bedroom with 3rd bath option, additional recessed lighting in the great room, a USB port in the kitchen, a covered patio and 2" white faux wood blinds throughout. With so many features sure to fit any lifestyle, it’s no wonder why the Walnut is beloved by so many.

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: 78633

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $126k335k

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

Zip Code: 78633

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371902

* 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
Jo Ann Ford Elementary School Primary Regular 552 32 8
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Jo Ann Ford Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 32
8
GreatSchools Rating

Douglas Benold Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 53
5
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$297,095$363,116$330,105

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 -$1,218
Property Tax -$624
Property Insurance -$158
HOA -$50
Property Management Fees -$99
CASH FLOW
$11

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.

$330,105

PROJECTED PRICE

$2,160

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,478

INVESTMENT

$89,478

Down Payment
$82,526
Rehab Estimate
$2,000
Closing Costs
$4,952

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,526
Loan Amount $247,579
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,298

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
  • $0.93

    LIST RENT PER SQFT
  • $2,089

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9254$1,9505$2,160
$2,160
RENT COMPS ANALYSIS
  • 2216 Limestone Lake Drive Georgetown, TX 5
    • 4 beds 4 baths ∙ 2,328 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,328 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.93
    •  
  • 213 Village Park Dr Georgetown, TX 1
    • 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 114 Painted Bunting Lane Georgetown, TX 2
    • 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 1998
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 208 Allen Georgetown, TX 3
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1998
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.86
    •  
  • 4929 Woodstock Drive Georgetown, TX 4
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2005
    property image
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
G. Michael Peccon
1.512.271.3831
Century Communities - Crotx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9266664
Last Updated: 12/10/2020
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