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228 Wegstrom Street Hutto, TX 78634

3 Beds 2 Baths 1,339 sqft Built 2004

$209,950

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $156.80
  • 2 Days on Market
  • MLS # : 9466874
  • Updated Date : 11/02/2020 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,339 sqft
  • Baths : 2 full
Listing Agent

Key 2 Texas Realty

Listing Agent's Description

Wonderful starter home in a great community! Low tax rate! Open plan ! Large Pantry! 3-2-2 Owner has done some updates this month which include Carpet, recent paint, Stainless appliance's to be installed this week. Private- Good size back yard for the kids or outdoor entertaining! Community Park & pool!

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: 78634

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $117k298k

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

Zip Code: 78634

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471723

* 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
Hutto Middle School Primary Regular 708 46 6
Hutto Middle School Middle Regular 708 46 6
Hutto High School High Regular 1,666 99 6

Hutto Middle School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 46
6
GreatSchools Rating

Hutto Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 46
6
GreatSchools Rating

Hutto High School

  • Education Level: High
  • # of students: 1,666
  • # of teachers: 99
6
GreatSchools Rating
 

$188,955$230,945$209,950

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$775
Property Tax -$495
Property Insurance -$102
HOA -$30
Property Management Fees -$106
CASH FLOW
-$179

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.

$209,950

PROJECTED PRICE

$1,330

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k

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$61,387

INVESTMENT

$61,387

Down Payment
$52,488
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,488
Loan Amount $157,463
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,332

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3303$1,3754$1,495
$1,495
RENT COMPS ANALYSIS
  • 228 Wegstrom Street Hutto, TX 2
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.99
    •  
  • 228 Wegstrom St Hutto, TX 1
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 2004
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.97
    •  
  • 311 Wegstrom Street Hutto, TX 3
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 2005
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
  • 127 Brown St Hutto, TX 4
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2003
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
PROPERTY LISTING DETAILS
Cynthia Key
1.281.859.8282
Key 2 Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9466874
Last Updated: 11/02/2020
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