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3112 Oak Ridge Drive Horseshoe Bay, TX 78657

3 Beds 2 Baths 2,002 sqft Built 1980

$380,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $189.81
  • 8 Days on Market
  • MLS # : 4169323
  • Updated Date : 10/28/2020 at 10:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,002 sqft
  • Baths : 2 full
Listing Agent

All City Real Estate Ltd. Co

Listing Agent's Description

Welcome to 3112 Oak Ridge, a 3 bed 2 bath home just over 2000 SF. The home sits on a 1.3 acre lot in the quiet subdivision of Oak Ridge and has several large trees. The home has recent updates throughout the home with upgraded kitchen, bathrooms and floors. The A/C was replaced within the last year and the home is also equipped with a nest thermostat and ring door bell. Out back there is a 500 SF metal barn with plenty of space. There is a POA park just down the street with access to Lake LBJ. The property also enjoys a very low tax rate at 1.44. Come take a look at this gem before it's gone.

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: Oakridge

ZipNIR Market*CityMarket2010Year2000 Q22019100k150k200k250k300k350k400kPrice in $91k408k

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

Neighborhood: Oakridge

Neighborhood2018 Q3Year20182019 Q21600170018001900Rent in $15251945

* 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
Llano High School High Regular 477 39 5

Llano High School

  • Education Level: High
  • # of students: 477
  • # of teachers: 39
5
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,402
Property Tax -$548
Property Insurance -$138
HOA -$4
Property Management Fees -$160
CASH FLOW
-$253

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$380,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,300
$2,300
RENT COMPS ANALYSIS
  • 3112 Oak Ridge Drive Horseshoe Bay, TX 1
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 2920 Candace Cir Horseshoe Bay, TX 2
    • 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1991
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 505 Silver Spur Horseshoe Bay, TX 3
    • 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,160 Sqft ∙ Built 1978
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 3327 Bay West Boulevard Horseshoe Bay, TX 4
    • 4 beds 4 baths ∙ 2,332 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,332 Sqft ∙ Built 2008
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
PROPERTY LISTING DETAILS
Taylor Delz
1.325.423.4073
All City Real Estate Ltd. Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4169323
Last Updated: 10/28/2020
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