Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

309 Potters Peak Way Georgetown, TX 78626

3 Beds 2 Baths 1,609 sqft Built 2014

$245,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $152.27
  • 6 Days on Market
  • MLS # : 2670526
  • Updated Date : 10/29/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

Dignified Dwellings Realty

Listing Agent's Description

Classic Red Brick Stunner in Georgetown's Pinnacle! This home has been lovingly maintained and ready for a new owner. This open concept floor-plan boasts only carpeting in the bedrooms with hard surfaces elsewhere. Large eat-in kitchen with ample counter/cabinet space and granite counters. Lux master suite boasts large walk-in shower, large closet, and upgraded bay-window/bump-out sitting area. Enjoy sitting on your own private covered porch that has been screened in and overlooks a green lush yard. Pinnacle HOA amenities include pool, parks, and sport court. This one is a MUST SEE!

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: 78626

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $120k315k

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

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441816

* 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
Carver Elementary School Primary Regular 429 29 3
George Wagner Middle School Middle Regular NA
East View High School High Regular 1,418 110 4

Carver Elementary School

  • Education Level: Primary
  • # of students: 429
  • # of teachers: 29
3
GreatSchools Rating

George Wagner Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$904
Property Tax -$480
Property Insurance -$118
HOA -$37
Property Management Fees -$126
CASH FLOW
-$85

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.

$245,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.7%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,000

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,681

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5803$1,6504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 309 Potters Peak Way Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.98
    •  
  • 728 Pinnacle Drive Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2016
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.05
    •  
  • 205 Naset Dr Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2019
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 514 Pinnacle Drive Georgetown, TX 4
    • 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 2016
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 305 Naset Drive Georgetown, TX 5
    • 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,698 Sqft ∙ Built 2020
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
PROPERTY LISTING DETAILS
John Paul Porter
1.512.563.8176
Dignified Dwellings Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2670526
Last Updated: 10/29/2020
BESbswy