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31443 Kingsway Road Georgetown, TX 78628

3 Beds 2 Baths 2,365 sqft Built 2016

$399,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $168.71
  • 3 Days on Market
  • MLS # : 4787175
  • Updated Date : 03/20/2021 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,365 sqft
  • Baths : 2 full
Listing Agent

Realty Solutions

Listing Agent's Description

Beautiful move in ready 3 bedroom 2 bath home with office, formal dining and breakfast area. A large inviting family room with a cozy fireplace perfect for entertaining. The premier bedroom has a spacious large bathroom and generous closets. An office is located off the premier suite perfect for working from home. The home features plenty of storage space. The home sets on an oversized lot with a large backyard with covered back patio. This gem is just waiting for someone to make it their home. The pirate ship in the backyard is being moved.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Berry Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Berry Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9972410

* 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
Raye Mccoy Elementary School Primary Regular 558 38 6
Charles A. Forbes Middle School Middle Regular 735 46 3
Georgetown High School High Regular 1,822 121 5

Raye Mccoy Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 38
6
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,386
Property Tax -$782
Property Insurance -$160
HOA -$17
Property Management Fees -$99
CASH FLOW
-$364

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.

$399,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 1.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,945

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8253$2,0504$2,080
$2,080
RENT COMPS ANALYSIS
  • 31443 Kingsway Road Georgetown, TX 4
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.88
    •  
  • 7737 Little Deer Trail Georgetown, TX 1
    • 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 2004
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 30126 Bumble Bee Dr Georgetown, TX 2
    • 3 beds 2 baths ∙ 2,233 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,233 Sqft ∙ Built 2009
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.82
    •  
  • 31316 Kingsway Road Georgetown, TX 3
    • 3 beds 2 baths ∙ 2,472 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,472 Sqft ∙ Built 2015
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.83
    •  
PROPERTY LISTING DETAILS
Natasha Roberts
Realty Solutions
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4787175
Last Updated: 03/20/2021
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