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308 Leanne Dr Georgetown, TX 78633

4 Beds 3 Baths 2,464 sqft Built 2006

INVESTimate

$249,900

List Price

$1,860

$1,674 - $2,046

Rent Est.

$260,571  ( +4.27%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $101.42
  • 6 Days on Market
  • MLS # : 9410324
  • Updated Date : 08/25/2020 at 06:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,464 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ace Properties

Listing Agent's Description

West Georgetown home. 4 bedrooms/2.5 baths. 2 car front entry insulated garage door. Gourmet kitchen. Center island & decorative ledge. Neutral counters & hard tile. Black Whirlpool appliances. Oversized pantry/utility room. Breakfast area + formal dining area. 1/2 bath main level. Four bedrooms up all with walk-in closets. Grande Master suite w sitting area. Master bath w/double marbled vanities. Two oversized walk-in closets. Nickel hardware. Backyard w/wood privacy fence. New roof installed 07/2020

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,674$2,046$1,860

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$922
Property Tax -$568
Property Insurance -$166
HOA -$13
Property Management Fees -$149
CASH FLOW
$43

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.

$249,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.74%

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$13,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8504$1,8605$2,000
$2,000
RENT COMPS ANALYSIS
  • 308 Leanne Dr Georgetown, 4
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.75
    •  
  • 317 Leanne Dr Georgetown, 1
    • 3 beds 2 baths ∙ 2,310 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,310 Sqft ∙ Built 2004
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 903 Elmwood Dr Georgetown, 2
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 320 Wind Hollow Dr Georgetown, 3
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2007
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 4901 Woodstock Dr Georgetown, 5
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2005
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Paul Gerace
1.512.487.2846
Ace Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9410324
Last Updated: 08/25/2020
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