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264 Dayridge Drive Dripping Springs, TX 78620

4 Beds 3 Baths 2,774 sqft Built 2018

$525,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $189.26
  • 6 Days on Market
  • MLS # : 6002506
  • Updated Date : 12/01/2020 at 18:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,774 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This immaculate 4/3 boasts a game room, along with a downstairs office and even an upstairs office loft. It backs to a greenbelt giving you privacy in the back yard which is perfect for entertaining and enjoying life in Dripping Springs. Hardwood floors throughout the main level and a spacious open floor plan to enjoy the gorgeous kitchen from the living area, with quartz countertops and stainless steel appliances. A mud room greets you at the garage entry making this home perfect for any size family to enjoy. The house is automated by Nest, making controlling the two thermostats, entry locks and exterior cameras easy when away from home. Headwaters has the most luxurious amenities in the Texas Hill Country, from stunning Hill Country views along with miles of nature trails, state of the art fitness center, to a split-level noise controlled pool and water play scape. All of this, plus being located in the highly sought after Dripping Springs ISD. Just 25 minutes west of Austin, makes getting to the airport simple, while being in Dripping Springs means being just miles from some of the states highest rated wineries, distilleries & music venues.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78620

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k461k

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

Zip Code: 78620

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9972218

* 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
Dripping Springs Elementary School Primary Regular 921 57 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Dripping Springs Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
8
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,937
Property Tax -$902
Property Insurance -$183
HOA -$108
Property Management Fees -$99
CASH FLOW
-$530

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.

$525,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,301

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,866

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,7003$2,7004$3,150
$3,150
RENT COMPS ANALYSIS
  • 264 Dayridge Drive Dripping Springs, TX 3
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 720 E Creek Drive Dripping Springs, TX 1
    • 5 beds 2 baths ∙ 2,634 Sqft ∙ Built 1994 5 beds 2 baths ∙ 2,634 Sqft ∙ Built 1994
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 1007 Sundance Ridge Rd Dripping Springs, TX 2
    • 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,537 Sqft ∙ Built 1994
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.06
    •  
  • 700 W Creek Dr Dripping Springs, TX 4
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1993
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.15
    •  
PROPERTY LISTING DETAILS
Karysa Myers
1.512.749.6471
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6002506
Last Updated: 12/01/2020
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