Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

229 Heleakala Drive Bastrop, TX 78602

3 Beds 3 Baths 1,400 sqft Built 2021

$235,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $167.86
  • 5 Days on Market
  • MLS # : 3080463
  • Updated Date : 01/23/2021 at 19:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full , 1 half
Listing Agent

House And Home Realty

Listing Agent's Description

Impressive New Modern Home Construction. As you walk upon the main floor to your right you will find large natural light sleek living room area. Thereafter, included under the stairs storage, laundry closet and power room. Approaching to your your left a dinning room conveniently located next to kitchen island. The kitchen features quartz countertops, hexagon backsplash, plenty of cabinets and pantry storage. As you ascend upstairs to second floor to your left two secondary bedrooms and one full bath. To the right the primary bedroom with a refreshing shower and walk in closet. Also, includes the most gorgeous view from your private balcony for coffee or wine brake. This home is located near serene Bastrop Nature Preserve. It's about 45 min (36 mi) to Austin, TX. No POA FEES!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: Tahitian Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $106k298k

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

Neighborhood: Tahitian Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7131723

* 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
Emile Elementary School Primary Regular 570 38 4
Bastrop Middle School Middle Regular 707 48 4
Bastrop High School High Regular 1,253 87 4

Emile Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 38
4
GreatSchools Rating

Bastrop Middle School

  • Education Level: Middle
  • # of students: 707
  • # of teachers: 48
4
GreatSchools Rating

Bastrop High School

  • Education Level: High
  • # of students: 1,253
  • # of teachers: 87
4
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$816
Property Tax -$491
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$12

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$235,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 3.00%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$64,275

INVESTMENT

$64,275

Down Payment
$58,750
Rehab Estimate
$2,000
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5504$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 229 Heleakala Drive Bastrop, TX 2
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 234 E Keanahalululu Ln Bastrop, TX 1
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1999
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
  • 115 Kaena Lane Bastrop, TX 3
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1999
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.05
    •  
  • 127 N Kaupo Drive #a Bastrop, TX 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2016
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 395 Mauna Loa Ln Bastrop, TX 5
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2005
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.09
    •  
PROPERTY LISTING DETAILS
Zayra Delgado Bautista
1.512.743.8455
House And Home Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3080463
Last Updated: 01/23/2021
BESbswy