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313 Kings Creek Road Georgetown, TX 78633

2 Beds 2 Baths 1,388 sqft Built 2013

$248,850

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $179.29
  • 5 Days on Market
  • MLS # : 6898205
  • Updated Date : 11/05/2020 at 00:01
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,388 sqft
  • Baths : 2 full
Listing Agent

Kuper Sotheby's Itl Rlty

Listing Agent's Description

Live That Active Empty Nester Life for Under $250K! If it’s time to downsize and you’re looking around thinking, ‘When did everything get so expensive?’- you can halt the search! This 2 bedroom charmer in Sun City Georgetown is perfect for your next phase. The floor-plan is flexible making it easy to use the study as a small 3rd bedroom or even a nursery for a grandchild. Sun City is the perfect marriage of recreation and rest...swim, play golf or tennis, walk on the 13 miles of nature trails, work out at the fitness center, fish in the ponds or just sit on your peaceful, eastern facing back porch watching the deer stroll by on their evening walks. 313 Kings Creek Road would also make a lovely lock and leave second home. It is neat as a pin and just waiting for you to come visit!

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: Sun City

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Sun City

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
 

$223,965$273,735$248,850

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$918
Property Tax -$488
Property Insurance -$105
HOA -$100
Property Management Fees -$125
CASH FLOW
-$176

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.

$248,850

PROJECTED PRICE

$1,560

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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

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$71,695

INVESTMENT

$71,695

Down Payment
$62,213
Rehab Estimate
$5,750
Closing Costs
$3,733

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,213
Loan Amount $186,638
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,6953$1,6954$1,800
$1,800
RENT COMPS ANALYSIS
  • 313 Kings Creek Road Georgetown, TX 1
    • 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 2013 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.12
    •  
  • 110 Yellow Rose Trl Georgetown, TX 2
    • 2 beds 2 baths ∙ 1,591 Sqft ∙ Built 1997 2 beds 2 baths ∙ 1,591 Sqft ∙ Built 1997
    property image
    LEASED 06/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 832 Salado Creek Lane Georgetown, TX 3
    • 2 beds 2 baths ∙ 1,467 Sqft ∙ Built 2013 2 beds 2 baths ∙ 1,467 Sqft ∙ Built 2013
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.16
    •  
  • 312 Monarch Trail Georgetown, TX 4
    • 2 beds 2 baths ∙ 1,564 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,564 Sqft ∙ Built 2006
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.15
    •  
PROPERTY LISTING DETAILS
Jennifer Keefer
1.512.924.4760
Kuper Sotheby's Itl Rlty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6898205
Last Updated: 11/05/2020
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