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350 White River Drive Georgetown, TX 78626

3 Beds 2 Baths 1,808 sqft Built 2017

$325,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $179.76
  • 4 Days on Market
  • MLS # : 7882088
  • Updated Date : 03/13/2021 at 21:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,808 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

OPEN HOUSE Sun 1-4; Delightful one story, 3 bed, 2 bath, 3 car garage home nestled in Georgetown's quiet La Conterra neighborhood on one of its largest lots. Major upgrades include 4 sides brick, upgraded insulation wrap, rounded corner, gutters and sprinkler system as well as the Kinetico water softener & filtration system. Stunning laminate & hard tile throughout. Bright and Airy floorplan with family room open to kitchen and dining area. Gourmet kitchen features upgraded granite counters, shaker style cabinets, stainless steel appliances, and an expansive breakfast bar - great for entertaining! Spacious Master bedroom enjoys an en suite bath with an extended walk-in shower, granite double vanity, 2 linen closets, and large walk-in closet. Venture outside to the fully irrigated yards, with drought resistant Bermuda grass, native landscaping beds, young oak trees and a native palo verde tree. Watch the sunset while relaxing on the extended covered back patio. Take advantage of nearby Austin and Georgetown amenities without the hassle and noise of big-city traffic running thru the neighborhood - shops, restaurants, great bakeries, and coffee shops. Get to know your neighbors while participating in Georgetown Square's monthly market days, car show, annual 'lighting of the square", and Turkey Trot. Also nearby - Round Rock Outlet Mall, 2 hospitals, Southwest University, and large ACC campus. Serviced by Georgetown ISD, this home is a must see!

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

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
George Wagner Middle School Middle Unknown NA
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

George Wagner Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East View High School

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

$292,500$357,500$325,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,129
Property Tax -$637
Property Insurance -$129
HOA -$38
Property Management Fees -$99
CASH FLOW
-$302

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.

$325,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.7%
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$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

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,722

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6953$1,7304$1,820
$1,820
RENT COMPS ANALYSIS
  • 350 White River Drive Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.96
    •  
  • 1011 Grande Mesa Drive Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 2015
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.91
    •  
  • 211 Animas Dr Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2010
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 1109 Grande Mesa Dr Georgetown, TX 4
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2012
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.96
    •  
PROPERTY LISTING DETAILS
Janette Friend-harrington
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7882088
Last Updated: 03/13/2021
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