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348 Conchillos Dr Georgetown, TX 78626

3 Beds 3 Baths 2,371 sqft Built 2019

INVESTimate

$277,999

List Price

$1,800

$1,620 - $1,980

Rent Est.

$296,681  ( +6.72%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $117.25
  • 7 Days on Market
  • MLS # : 8219905
  • Updated Date : 08/25/2020 at 10:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,371 sqft
  • Baths : 2 full , 1 half
Listing Agent

Eaton Realty

Listing Agent's Description

Perfect 2 story home, spacious and inviting. Open floor plan. 3 bedrooms, loft, and a separate study that can be easily converted into a 4th bedroom. Plenty of natural light. Master bath features an oversized garden tub with a double vanity and shaker style cabinets. This house is located in a fantastic neighborhood, close to all amenities, plenty of great parks and freeway access. Approximately 10 minutes to Georgetown Square. Come take a look 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

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
James Tippit Middle School Middle Regular 840 54 3
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

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

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

$250,199$305,799$277,999

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,026
Property Tax -$546
Property Insurance -$160
HOA -$37
Property Management Fees -$144
CASH FLOW
-$113

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$277,999

PROJECTED PRICE

$1,800

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.72%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,670

INVESTMENT

$75,670

Down Payment
$69,500
Rehab Estimate
$2,000
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,500
Loan Amount $208,499
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8504$2,000
$2,000
RENT COMPS ANALYSIS
  • 348 Conchillos Dr Georgetown, 2
    • 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,371 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.76
    •  
  • 1900 Cliffbrake Way Georgetown, 1
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2018
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 1513 Ferryman Dr Georgetown, 3
    • 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,195 Sqft ∙ Built 2019
    property image
    LEASED 03/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 5100 Vanner Path Georgetown, 4
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2019
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
PROPERTY LISTING DETAILS
Stephen Eaton
1.409.996.9999
Eaton Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8219905
Last Updated: 08/25/2020
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