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320 Meadowside Drive Hutto, TX 78634

4 Beds 2 Baths 1,512 sqft Built 2001

$256,500

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $169.64
  • 3 Days on Market
  • MLS # : 8580454
  • Updated Date : 12/05/2020 at 02:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Cornerstone Real Estate, Inc.

Listing Agent's Description

Beautiful 4 bed 2 bath home that backs to a wonderful park with picnic area, restrooms, hike n bike, playground, backstops (for ball practice), and massive meadows to just run and play and burn off energy with fido. Home features a lovely color palette, tiled floors throughout, fresh kitchen, spacious high celings with eye appealling angles. Two car garage with automatic opener. Plumbed for water softener. And views of the cool iron bridge and park right out the back windows! Now that is priceless.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78634

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $117k298k

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

Zip Code: 78634

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471723

* 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
Hutto Elementary School Primary Regular 644 40 7
Hutto Middle School Middle Regular 708 46 6
Hutto High School High Regular 1,666 99 6

Hutto Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 40
7
GreatSchools Rating

Hutto Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 46
6
GreatSchools Rating

Hutto High School

  • Education Level: High
  • # of students: 1,666
  • # of teachers: 99
6
GreatSchools Rating
 

$230,850$282,150$256,500

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$946
Property Tax -$601
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
-$239

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.

$256,500

PROJECTED PRICE

$1,520

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.4%
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-$6.0k-$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$73,723

INVESTMENT

$73,723

Down Payment
$64,125
Rehab Estimate
$5,750
Closing Costs
$3,848

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$946

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,125
Loan Amount $192,375
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,459

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4253$1,4754$1,4755$1,520
$1,520
RENT COMPS ANALYSIS
  • 320 Meadowside Drive Hutto, TX 5
    • 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.01
    •  
  • 304 Main St Hutto, TX 1
    • 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,462 Sqft ∙ Built 1986
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 430 Luna Vista Hutto, TX 2
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2016
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.97
    •  
  • 205 Orchard Way Hutto, TX 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2001
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.99
    •  
  • 106 Adamae Lane Hutto, TX 4
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2006
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sharla Gola
1.512.771.2412
Cornerstone Real Estate, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8580454
Last Updated: 12/05/2020
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