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22220 Verbena Parkway Spicewood, TX 78669

4 Beds 3 Baths 2,060 sqft Built 2016

$420,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $203.88
  • 3 Days on Market
  • MLS # : 9223087
  • Updated Date : 02/13/2021 at 13:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,060 sqft
  • Baths : 3 full
Listing Agent

Realty Austin

Listing Agent's Description

Adorable Highland home with views views views! This beautiful home backs to the greenbelt! Sit back and relax in the hot tub and see the hill country at its finest! Composite wood deck and hot tub added in 2018 is a $20k upgrade. Wood floors throughout, and open kitchen complete with white cabinets and stainless steel appliances. Split floor plan. Updated lighting fixtures throughout. This home is just adorable!

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: West Cypress Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k511k

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

Neighborhood: West Cypress Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9973133

* 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
West Cypress Hills Elementary School Primary Unknown 525 32 NA
Lake Travis Middle School Middle Regular 1,066 64 10
Lake Travis High School High Regular 2,561 141 8

West Cypress Hills Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 32
NA
GreatSchools Rating

Lake Travis Middle School

  • Education Level: Middle
  • # of students: 1,066
  • # of teachers: 64
10
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,459
Property Tax -$1,034
Property Insurance -$143
HOA -$59
Property Management Fees -$99
CASH FLOW
-$373

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.

$420,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 3.9%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,472

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4203$2,5004$2,750
$2,750
RENT COMPS ANALYSIS
  • 22220 Verbena Parkway Spicewood, TX 2
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.17
    •  
  • 5625 Texas Bluebell Dr Spicewood, TX 1
    • 4 beds 2 baths ∙ 2,053 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,053 Sqft ∙ Built 2008
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.17
    •  
  • 6005 Cassena Cv Spicewood, TX 3
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 2017
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.21
    •  
  • 5509 Wild Foxglove Road Spicewood, TX 4
    • 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 2012
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.22
    •  
PROPERTY LISTING DETAILS
Betsy Smith
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9223087
Last Updated: 02/13/2021
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