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2726 Ridge Heights New Braunfels, TX 78130

3 Beds 2 Baths 2,397 sqft Built 2017

$330,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $137.67
  • 39 Days on Market
  • MLS # : 1490729
  • Updated Date : 12/04/2020 at 15:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,397 sqft
  • Baths : 2 full
Listing Agent

Jbgoodwin Realtors Wl

Listing Agent's Description

Do not miss this beautiful one story David Weekley home, that features such upgrades as 42 inch white custom cabinets, granite counter tops, stainless steel appliances, large kitchen island, gas living room fireplace, two living areas, large open rooms, covered patio, and a folding table in the laundry room. The master bedroom is large and features separate bathroom vanities.

SEE MORE

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: 78130

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

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

Zip Code: 78130

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* 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
Klein Road Elementary School Primary Regular 728 43 6
New Braunfels Middle School Middle Regular 971 59 6
New Braunfels High School High Regular 1,711 94 6

Klein Road Elementary School

  • Education Level: Primary
  • # of students: 728
  • # of teachers: 43
6
GreatSchools Rating

New Braunfels Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 59
6
GreatSchools Rating

New Braunfels High School

  • Education Level: High
  • # of students: 1,711
  • # of teachers: 94
6
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,218
Property Tax -$595
Property Insurance -$165
HOA -$37
Property Management Fees -$99
CASH FLOW
-$253

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$330,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,069

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,002

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7753$1,860
$1,860
RENT COMPS ANALYSIS
  • 2726 Ridge Heights New Braunfels, TX 3
    • 3 beds 2 baths ∙ 2,397 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,397 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.78
    •  
  • 441 Roadrunner Avenue New Braunfels, TX 1
    • 4 beds 3 baths ∙ 2,071 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,071 Sqft ∙ Built 2008
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 2666 Dove Crossing New Braunfels, TX 2
    • 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2010
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.81
    •  
PROPERTY LISTING DETAILS
Cynthia Ross-goodwin
1.713.202.8034
Jbgoodwin Realtors Wl
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1490729
Last Updated: 12/04/2020
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