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304 Cedar Lake Blvd Georgetown, TX 78633

3 Beds 3 Baths 2,102 sqft Built 2006

INVESTimate

$270,000

List Price

$1,760

$1,584 - $1,936

Rent Est.

$281,529  ( +4.27%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $128.45
  • 6 Days on Market
  • MLS # : 1527860
  • Updated Date : 08/22/2020 at 10:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,102 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful Georgetown home welcomes you with its warm stone exterior. Step through the front door into the large living space, perfect for welcoming guests. Continue through to the Kitchen/dining/living space laid out with entertaining in mind. The home includes three spacious bedrooms and a bonus office/game room. Retreat to the peaceful backyard and relax under the mature magnolia tree and other trees shading the yard. Conveniently located near parks, H-E-B, dining, and shopping! Easy access to I-35.

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

Neighborhood: Woodlake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $126k315k

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

Neighborhood: Woodlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9371868

* 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
Jo Ann Ford Elementary School Primary Regular 552 32 8
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Jo Ann Ford Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 32
8
GreatSchools Rating

Douglas Benold Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 53
5
GreatSchools Rating

Georgetown High School

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

$243,000$297,000$270,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$996
Property Tax -$529
Property Insurance -$145
HOA -$25
Property Management Fees -$141
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.

$270,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.27%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7203$1,7604$1,7955$1,950
$1,950
RENT COMPS ANALYSIS
  • 304 Cedar Lake Blvd Georgetown, 3
    • 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.84
    •  
  • 242 Wildwood Dr Georgetown, 1
    • 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,069 Sqft ∙ Built 2004
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 137 Village Commons Blvd Georgetown, 2
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2001
    property image
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.85
    •  
  • 902 Elmwood Dr Georgetown, 4
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2006
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 1003 Elmwood Dr Georgetown, 5
    • 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,027 Sqft ∙ Built 2006
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ricky Cain
1.512.794.6643
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 1527860
Last Updated: 08/22/2020
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