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273 Mount Vernon Way Liberty Hill, TX 78642

5 Beds 3 Baths 2,543 sqft Built 2020

$305,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $120.29
  • 6 Days on Market
  • MLS # : 9893104
  • Updated Date : 11/03/2020 at 23:32
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,543 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Victoria is a new 2-story, 5-bedroom, 2.5 bath home in the stunning community of Liberty Parke. Inside this home you will find thousands of dollars in upgrades including stainless-steel kitchen appliances, granite countertops, 42” wood cabinetry with crown molding, and attached 2-car garage with a Wifi-enabled garage door opener and more. The Victoria plan features a private master suite downstairs, an upstairs gameroom and 4 generously-sized additional bedrooms, complete with large walk-in closets.

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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
 

$275,310$336,490$305,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,129
Property Tax -$598
Property Insurance -$170
HOA -$50
Property Management Fees -$159
CASH FLOW
-$115

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.

$305,900

PROJECTED PRICE

$1,990

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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,064

INVESTMENT

$83,064

Down Payment
$76,475
Rehab Estimate
$2,000
Closing Costs
$4,589

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,475
Loan Amount $229,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,933

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,9904$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 273 Mount Vernon Way Liberty Hill, TX 3
    • 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,543 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.78
    •  
  • 289 Drystone Trl Liberty Hill, TX 1
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2006
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 136 Continental Ave Liberty Hill, TX 2
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2018
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.70
    •  
  • 260 Drystone Trl Liberty Hill, TX 4
    • 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2010
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 360 Quarry Ln Liberty Hill, TX 5
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 2014
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
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 #: 9893104
Last Updated: 11/03/2020
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