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2534 Georgian Drive Georgetown, TX 78626

3 Beds 3 Baths 1,592 sqft Built 2002

$249,500

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $156.72
  • 4 Days on Market
  • MLS # : 8087430
  • Updated Date : 02/14/2021 at 00:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,592 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful, 3 bed-2 1/2 bath hm. The kitchen has a long counter space perfect for breakfast dining and is completely open to the family room w/fireplace & dining area. The main suite is filled with tons of natural light and an updated designer bathroom. Quiet cul-de-sac, lovely outdoor entertainment area with gorgeous resort-style pool with huge palm trees for extra privacy.

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: Georgian Place

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k315k

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

Neighborhood: Georgian Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8571816

* 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
Carver Elementary School Primary Regular 429 29 3
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

Carver Elementary School

  • Education Level: Primary
  • # of students: 429
  • # of teachers: 29
3
GreatSchools Rating

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

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

$224,550$274,450$249,500

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 -$867
Property Tax -$489
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
-$72

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.

$249,500

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,260

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
  • $0.94

    LIST RENT PER SQFT
  • $1,548

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5653$1,5954$1,6005$1,625
$1,625
RENT COMPS ANALYSIS
  • 2534 Georgian Drive Georgetown, TX 1
    • 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 1031 Leeds Castle Walk Georgetown, TX 2
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2001
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.94
    •  
  • 2009 Perkins Pl Georgetown, TX 3
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 2007
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 1025 Leeds Castle Walk Georgetown, TX 4
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2001
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 2504 Clover Valley Lane Georgetown, TX 5
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1993
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tanya Narvaez
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8087430
Last Updated: 02/14/2021
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