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241 Mount Vernon Way Liberty Hill, TX 78642

4 Beds 2 Baths 1,793 sqft Built 2020

$268,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $149.97
  • 4 Days on Market
  • MLS # : 5260404
  • Updated Date : 11/05/2020 at 20:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Jasper is a 4 bed/2 bath w/ an attached 2-car garage, - our largest, single-story home in highly-desirable Liberty Parke. The Jasper comes with thousands of dollars in upgrades like, stainless-steel kitchen appliances, including the refrigerator, stunning wood cabinetry with crown molding, granite countertops, and a WiFi-enabled garage door opener. The Jasper plan also boasts a beautiful brick and stone exterior, a covered front porch, a fully fenced backyard and professional front yard landscaping.

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: 78642

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Zip Code: 78642

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371926

* 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
Bill Burden Elementary School Primary Regular 674 47 7
Liberty Hill Junior High School Middle Regular 501 34 8
Liberty Hill High School High Regular 1,015 63 6

Bill Burden Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 47
7
GreatSchools Rating

Liberty Hill Junior High School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 34
8
GreatSchools Rating

Liberty Hill High School

  • Education Level: High
  • # of students: 1,015
  • # of teachers: 63
6
GreatSchools Rating
 

$242,010$295,790$268,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$992
Property Tax -$525
Property Insurance -$128
HOA -$50
Property Management Fees -$139
CASH FLOW
-$94

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$268,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 3.00%
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$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$73,259

INVESTMENT

$73,259

Down Payment
$67,225
Rehab Estimate
$2,000
Closing Costs
$4,034

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,225
Loan Amount $201,675
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,726

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6953$1,7404$1,7455$1,800
$1,800
RENT COMPS ANALYSIS
  • 241 Mount Vernon Way Liberty Hill, TX 3
    • 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.97
    •  
  • 218 Independence Avenue Liberty Hill, TX 1
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2019
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.96
    •  
  • 204 Drystone Trl Liberty Hill, TX 2
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2011
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 222 Independence Avenue Liberty Hill, TX 4
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 2019
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.94
    •  
  • 825 Liberty Meadows Drive Liberty Hill, TX 5
    • 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mona Hill
1.800.846.3085
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5260404
Last Updated: 11/05/2020
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