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304 Brazos Drive Georgetown, TX 78628

3 Beds 2 Baths 2,070 sqft Built 2003

$325,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $157.00
  • 5 Days on Market
  • MLS # : 1525744
  • Updated Date : 03/17/2021 at 15:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,070 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

This must see single story beauty with updates located in 55+, Texas Traditions community is the perfect place to call home! The spacious, open concept floor plan with easy flow exudes the comfort of being at home. Features include plantation shutters, arched and rounded corners, high ceilings, a neutral color palette, and tile and carpet flooring. A separate study or flex space contains beveled glass French doors. A bright kitchen with Avonite counters tops, ample storage space plus a large breakfast bar overlooks a spacious living and additional dining area ideal for relaxed entertaining. Retreat to a private owner's suite and bath with dual sinks, 2 closets and walk-in shower. Enjoy a professionally landscaped yard with sprinkler system and an over-sized garage with cabinetry and workshop area. Updates include: Electric stove top 2017, front door 2018, A/C replaced 2018, hot water heater 2020, roof and gutters 2020 and back yard fence 2020.

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: Texas Traditions

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $126k322k

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

Neighborhood: Texas Traditions

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9371848

* 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
Village Elementary School Primary Regular 370 29 7
Charles A. Forbes Middle School Middle Regular 735 46 3
Georgetown High School High Regular 1,822 121 5

Village Elementary School

  • Education Level: Primary
  • # of students: 370
  • # of teachers: 29
7
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,129
Property Tax -$637
Property Insurance -$144
HOA -$8
Property Management Fees -$99
CASH FLOW
-$77

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.

$325,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,951

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,9403$1,9504$2,0955$2,300
$2,300
RENT COMPS ANALYSIS
  • 304 Brazos Drive Georgetown, TX 2
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.94
    •  
  • 109 Woodland Road Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1981
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 603 Fairmont Georgetown, TX 3
    • 4 beds 2 baths ∙ 2,095 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,095 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 200 Turtle Bend Georgetown, TX 4
    • 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1984
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.00
    •  
  • 209 Mexican Olive Drive Georgetown, TX 5
    • 3 beds 3 baths ∙ 2,418 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,418 Sqft ∙ Built 2017
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Maggie Ruiz
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1525744
Last Updated: 03/17/2021
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