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2406 Edgecliff Path Georgetown, TX 78626

4 Beds 3 Baths 2,045 sqft Built 2005

INVESTimate

$255,000

List Price

$1,720

$1,548 - $1,892

Rent Est.

$272,136  ( +6.72%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $124.69
  • 5 Days on Market
  • MLS # : 3968819
  • Updated Date : 08/23/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,045 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Summercrest is located near Southwestern University and a short jot down the street from the most beautiful town square in Texas. This home offers two stories with 4 bedrooms all upstairs, two full size bathrooms, an upstairs laundry room with washer and dryer that will stay with the home. Large living area with fireplace and flex space or formal dining. Enjoy hosting barbecues outside in your large backyard and covered patio.

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: Summercrest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k315k

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

Neighborhood: Summercrest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9281816

* 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
James E. Mitchell Elementary School Primary Regular 739 47 2
Charles A. Forbes Middle School Middle Regular 735 46 3
East View High School High Regular 1,418 110 4

James E. Mitchell Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 47
2
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$941
Property Tax -$500
Property Insurance -$142
HOA -$31
Property Management Fees -$138
CASH FLOW
-$32

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.

$255,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.72%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7205$1,750
$1,750
RENT COMPS ANALYSIS
  • 2406 Edgecliff Path Georgetown, 4
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.84
    •  
  • 2313 Rock Ledge Dr Georgetown, 1
    • 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2003
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 2407 Howry Dr Georgetown, 2
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2008
    property image
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 2005 E 19th St Georgetown, 3
    • 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 1995
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 308 Thunderbay Dr Georgetown, 5
    • 3 beds 2 baths ∙ 1,939 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,939 Sqft ∙ Built 1994
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Gloria Walls
1.512.422.4598
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3968819
Last Updated: 08/23/2020
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