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2307 Meadow View Drive San Marcos, TX 78666

3 Beds 2 Baths 1,310 sqft Built 2011

$279,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $212.98
  • 3 Days on Market
  • MLS # : 8450627
  • Updated Date : 01/30/2021 at 06:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,310 sqft
  • Baths : 2 full
Listing Agent

Atx Properties

Listing Agent's Description

Charming home on a private street with plenty of parking for guests and a private backyard ready to entertain! Covered patio, playscape, vegetable gardens, and a turf area for games! Granite countertops, SS appliances, and an insulated garage with its own HVAC system and padded flooring ready for a home gym! Purgatory Creek Natural Area, Crockett Elementary, and Texas State are all 5 min away!

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: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Crockett Elementary School Primary Regular 574 34 6
Doris Miller Middle School Middle Regular 683 51 3
San Marcos High School High Regular 2,162 148 3

Crockett Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 34
6
GreatSchools Rating

Doris Miller Middle School

  • Education Level: Middle
  • # of students: 683
  • # of teachers: 51
3
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,162
  • # of teachers: 148
3
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$969
Property Tax -$572
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
-$191

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$279,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,418

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,5003$1,5254$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 2307 Meadow View Drive San Marcos, TX 4
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.18
    •  
  • 1300 Dartmouth Street San Marcos, TX 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 2011
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.12
    •  
  • 113 Finn Trail San Marcos, TX 2
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2019
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 213 Dieter San Marcos, TX 3
    • 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,321 Sqft ∙ Built 2019
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.15
    •  
  • 2009 Ridge View Dr San Marcos, TX 5
    • 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2006
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
PROPERTY LISTING DETAILS
Neel Segal
1.512.789.1769
Atx Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8450627
Last Updated: 01/30/2021
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