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2700 Georgian Drive Georgetown, TX 78626

3 Beds 3 Baths 2,278 sqft Built 2001

$234,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $103.12
  • 3 Days on Market
  • MLS # : 9191311
  • Updated Date : 12/12/2020 at 20:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,278 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Hellmann Stribling

Listing Agent's Description

Beautifully appointed 3 Bed/2.5 Bath home, conveniently located minutes from the Historic Georgetown Downtown Square with easy access to I-35! Updated vinyl plank flooring on the main level. Recently replaced carpet on stairs. Spacious floor plan features 2 living areas for flexibility and 2 dining areas for convenience. Kitchen features a center island, breakfast area and is open to the family room. Perfect for entertaining! The primary bedroom suite is oversized and has double vanities, a garden tub and a large walk-in closet. Two more secondary bedrooms, a full bath and a game room complete the upstairs layout. Step out on the balcony to enjoy your morning coffee or unwind after a long day. The back yard has no neighbor directly behind the home and is ready for your personal touches. Property is located just a short distance from 2 local parks as well. Lots to love at a price that is getting harder to find!

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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$867
Property Tax -$461
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
$58

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.

$234,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.70%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,317

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,783

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6404$1,7005$1,925
$1,925
RENT COMPS ANALYSIS
  • 2700 Georgian Drive Georgetown, TX 3
    • 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.72
    •  
  • 2012 Olin Georgetown, TX 1
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2003
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 1400 Laurel St Georgetown, TX 2
    • 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 1951 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 1951
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 2005 E 19th Street Georgetown, TX 4
    • 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 1995
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 1209 Haven Lane #104 Georgetown, TX 5
    • 3 beds 3 baths ∙ 2,410 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,410 Sqft ∙ Built 2011
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.80
    •  
PROPERTY LISTING DETAILS
Brett Danaher
1.512.423.5742
Century 21 Hellmann Stribling
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9191311
Last Updated: 12/12/2020
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