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3006 Heathmount Drive Cedar Park, TX 78613

4 Beds 3 Baths 2,436 sqft Built 2005

$475,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $194.99
  • 4 Days on Market
  • MLS # : 4277465
  • Updated Date : 03/18/2021 at 22:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,436 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Rare & sought-after single story in ‘The Gardens’ section of Twin Creeks with a Separate Casita! 1 bedroom/1 bath Casita is perfect for guests or use it as a gym or dedicated Office Space! The main house boasts 3 bedrooms + a study. The kitchen features granite countertops, gas cooking, breakfast area + ample counter & cabinet space! Tons of natural light + a fireplace in the family room. Private master retreat with dual vanities, soaking tub, and separate shower. This single-owner home has been meticulously cared for and it shows! Enjoy a cup of coffee or glass of wine on your back patio! The low maintenance yard allows you plenty of time to relax! Now, take a walk over to the Twin Creeks Country Club to see all that awaits with your membership!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Twin Creeks Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k479k

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

Neighborhood: Twin Creeks Country Club

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9972859

* 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
Cypress Elementary School Primary Regular 746 46 7
Cedar Park Middle School Middle Regular 1,396 74 9
Cedar Park High School High Regular 1,871 112 8

Cypress Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 46
7
GreatSchools Rating

Cedar Park Middle School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 74
9
GreatSchools Rating

Cedar Park High School

  • Education Level: High
  • # of students: 1,871
  • # of teachers: 112
8
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,650
Property Tax -$1,036
Property Insurance -$164
HOA -$33
Property Management Fees -$99
CASH FLOW
-$492

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.

$475,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 2.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,503

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4903$2,5004$2,695
$2,695
RENT COMPS ANALYSIS
  • 3006 Heathmount Drive Cedar Park, TX 2
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.02
    •  
  • 2509 Kinclaven Court Cedar Park, TX 1
    • 5 beds 4 baths ∙ 2,421 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,421 Sqft ∙ Built 2005
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.99
    •  
  • 2505 Farleigh Ln Cedar Park, TX 3
    • 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2005
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
  • 2510 Ben Doran Court Cedar Park, TX 4
    • 4 beds 4 baths ∙ 2,515 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,515 Sqft ∙ Built 2005
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.07
    •  
PROPERTY LISTING DETAILS
Deborah Harber
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4277465
Last Updated: 03/18/2021
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