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2943 Nicholas Cove New Braunfels, TX 78130

3 Beds 3 Baths 2,287 sqft Built 2015

$299,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $130.74
  • 7 Days on Market
  • MLS # : 7930119
  • Updated Date : 11/01/2020 at 01:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,287 sqft
  • Baths : 2 full , 1 half
Listing Agent

Penfed Realty

Listing Agent's Description

Highland Grove Charmer! Large 3 bedroom 2 and a half bath with Game room. Large Living/ Dining space as you enter the home, front area could be used as a Formal Dining or Open Office. Kitchen is open to the family room and has a breakfast nook. Stainless Steel appliances and granite counter tops, center island and over sized walk in pantry. Utility room is off of the kitchen with plenty of space for additional shelving. Upstairs boasts a large game room and additional walk-in closet for additional storage. Master suite is separate from the two secondary bedrooms. Large Master suite ample room for large dresser and king size bed. Master bath has separate vanity's, large soaking tub and separate shower. Covered back patio is just right for entertaining and back yard bbq's.

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

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
Morningside Elementary School Primary Regular 659 46 5
Danville Middle School Middle Regular NA
Canyon High School High Regular 2,341 129 6

Morningside Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 46
5
GreatSchools Rating

Danville Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,341
  • # of teachers: 129
6
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,103
Property Tax -$539
Property Insurance -$159
HOA -$40
Property Management Fees -$138
CASH FLOW
-$259

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.

$299,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.58%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7203$1,8754$1,8755$1,995
$1,995
RENT COMPS ANALYSIS
  • 2943 Nicholas Cove New Braunfels, TX 2
    • 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.75
    •  
  • 3630 Archer Boulevard New Braunfels, TX 1
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2006
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 2970 Sawmill Lane New Braunfels, TX 3
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 2014
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.74
    •  
  • 3518 Oldani Drive New Braunfels, TX 4
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2014
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
  • 418 Wood Duck New Braunfels, TX 5
    • 4 beds 3 baths ∙ 2,613 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,613 Sqft ∙ Built 2016
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.76
    •  
PROPERTY LISTING DETAILS
Seanna Henry
1.512.659.2667
Penfed Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7930119
Last Updated: 11/01/2020
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