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309 Mount Vernon Way Liberty Hill, TX 78642

4 Beds 2 Baths 1,793 sqft Built 2020

$272,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $152.20
  • 5 Days on Market
  • MLS # : 6652987
  • Updated Date : 11/03/2020 at 01:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

Complete Home +: stainless steel appliances, under-mount sink, hard surface counters, USB outlet, 42” upper cabinets w/crown molding; garage finished/painted; garage door opener; 3/4 light front entry door; recessed lights throughout; blinds throughout; min. of 9ft plate on 1st floor; ceiling fan in living/master; sod in rear; 2 paint colors (ceiling/wall). The Jasper is a 4 bed/2 bath w/ an attached 2-car garage, - our largest, single-story home in highly-desirable Liberty Parke. The Jasper comes with thousands of dollars in upgrades like, stainless-steel kitchen appliances, including the refrigerator, stunning wood cabinetry with crown molding, granite countertops, and a WiFi-enabled garage door opener. The Jasper plan also boasts a beautiful brick and stone exterior, a covered front porch, a fully fenced backyard and professional front yard landscaping.

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: 78642

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Zip Code: 78642

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371926

* 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
Bill Burden Elementary School Primary Regular 674 47 7
Liberty Hill Junior High School Middle Regular 501 34 8
Liberty Hill High School High Regular 1,015 63 6

Bill Burden Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 47
7
GreatSchools Rating

Liberty Hill Junior High School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 34
8
GreatSchools Rating

Liberty Hill High School

  • Education Level: High
  • # of students: 1,015
  • # of teachers: 63
6
GreatSchools Rating
 

$245,610$300,190$272,900

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 -$1,007
Property Tax -$533
Property Insurance -$128
HOA -$50
Property Management Fees -$155
CASH FLOW
$67

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.

$272,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,319

INVESTMENT

$74,319

Down Payment
$68,225
Rehab Estimate
$2,000
Closing Costs
$4,094

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,225
Loan Amount $204,675
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,417

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
  • $1.08

    LIST RENT PER SQFT
  • $1,896

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9404$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 309 Mount Vernon Way Liberty Hill, TX 3
    • 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.08
    •  
  • 232 Hobby Horse Liberty Hill, TX 1
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2003
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 3302 County Road 200 Liberty Hill, TX 2
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1953
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 3545 County Road 200 Liberty Hill, TX 4
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2002
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.12
    •  
  • 317 Freedom Park Avenue Liberty Hill, TX 5
    • 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 2020
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.17
    •  
PROPERTY LISTING DETAILS
Mona Hill
1.800.846.3085
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6652987
Last Updated: 11/03/2020
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