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22217 Cross Timbers Bend Lago Vista, TX 78645

3 Beds 2 Baths 2,094 sqft Built 2015

$374,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $178.61
  • 4 Days on Market
  • MLS # : 2875048
  • Updated Date : 01/15/2021 at 01:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,094 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

MUST-SEE immaculate, bright, and airy home with an extralarge open-living space. This 3 bedroom PLUS front office cannot be missed! Beautiful kitchen hosts an oversized island, built-in stainless steel appliances, granite countertops, and ample storage. Master bathroom boasts split vanities, large walk-in closets, separate soaking tub, and tiled shower... the perfect his-and-hers bathroom. With wood floors throughout the main living area and like-new carpet in the bedrooms, this one is move-in ready. Best part is the view from the tiled covered-patio where you can take in the best hill country sunsets.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78645

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $127k410k

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

Zip Code: 78645

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Lago Vista Elementary School Primary Regular 526 34 5
Lago Vista Middle School Middle Regular 398 26 6
Lago Vista High School High Regular 442 29 7

Lago Vista Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 34
5
GreatSchools Rating

Lago Vista Middle School

  • Education Level: Middle
  • # of students: 398
  • # of teachers: 26
6
GreatSchools Rating

Lago Vista High School

  • Education Level: High
  • # of students: 442
  • # of teachers: 29
7
GreatSchools Rating
 

$336,600$411,400$374,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,299
Property Tax -$874
Property Insurance -$145
HOA -$64
Property Management Fees -$99
CASH FLOW
-$291

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$374,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,860

INVESTMENT

$104,860

Down Payment
$93,500
Rehab Estimate
$5,750
Closing Costs
$5,610

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,299

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,500
Loan Amount $280,500
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,293

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,255

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1903$2,5004$2,500
$2,500
RENT COMPS ANALYSIS
  • 22217 Cross Timbers Bend Lago Vista, TX 2
    • 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.05
    •  
  • 21013 Deede Drive Lago Vista, TX 1
    • 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
  • 20819 Adobe Trl Lago Vista, TX 3
    • 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 1996
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
  • 21013 Ridgeview Loop Lago Vista, TX 4
    • 3 beds 2 baths ∙ 2,383 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,383 Sqft ∙ Built 1989
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jessica Cheatham
1.512.800.5238
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2875048
Last Updated: 01/15/2021
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