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305 Garcitas Cove Austin, TX 78748

4 Beds 4 Baths 2,634 sqft Built 2020

$436,710

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $165.80
  • 6 Days on Market
  • MLS # : 9495439
  • Updated Date : 11/03/2020 at 15:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,634 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ctx Listings, Llc

Listing Agent's Description

Terrazzo B Plan. Estimated Completion April 2021. Optional Study & Media Room.

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: 78748

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k378k

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

Zip Code: 78748

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371966

* 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
Menchaca Elementary School Primary Regular 717 47 5
Paredes Middle School Middle Regular 1,032 69 4
Akins High School High Regular 2,667 155 4

Menchaca Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 47
5
GreatSchools Rating

Paredes Middle School

  • Education Level: Middle
  • # of students: 1,032
  • # of teachers: 69
4
GreatSchools Rating

Akins High School

  • Education Level: High
  • # of students: 2,667
  • # of teachers: 155
4
GreatSchools Rating
 

$393,039$480,381$436,710

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 -$1,611
Property Tax -$847
Property Insurance -$175
HOA -$83
Property Management Fees -$199
CASH FLOW
-$425

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.

$436,710

PROJECTED PRICE

$2,490

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.1%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$117,728

INVESTMENT

$117,728

Down Payment
$109,178
Rehab Estimate
$2,000
Closing Costs
$6,551

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,611

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,178
Loan Amount $327,533
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$530

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
  • $0.95

    LIST RENT PER SQFT
  • $2,463

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4903$2,4954$2,4955$2,790
$2,790
RENT COMPS ANALYSIS
  • 305 Garcitas Cove Austin, TX 2
    • 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.95
    •  
  • 12804 Mission River Drive Manchaca, TX 1
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 2019
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 602 Allende Bend Austin, TX 3
    • 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 2019
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
  • 714 Allende Bend Austin, TX 4
    • 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,634 Sqft ∙ Built 2019
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
  • 511 Puerta Vallarta Ln Austin, TX 5
    • 4 beds 4 baths ∙ 2,984 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,984 Sqft ∙ Built 2019
    LEASED 05/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.93
    •  
PROPERTY LISTING DETAILS
Matthew Ikard
1.512.666.9661
Ctx Listings, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9495439
Last Updated: 11/03/2020
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