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3591 High Cloud Drive New Braunfels, TX 78130

3 Beds 3 Baths 2,142 sqft Built 2018

$315,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $147.06
  • 90 Days on Market
  • MLS # : 4720982
  • Updated Date : 11/02/2020 at 21:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,142 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bliss Real Estate Llc

Listing Agent's Description

Come see this beautiful ONE STORY home located in the highly desired Cloud Country neighbrohood. This almost new home offers: 3 bedrooms, plus Office/game room (or optional 4th bedroom), fire place, formal dining, a huge owner's suite, walk in closet, Large walk in shower, and a double vanity. This is the perfect living space for a growing family or for a small family. Being in a one story home often offers easier maintenance. The back patio is covered and leads in to the back yard, both front and the backyard are fully irrigated with immaculate lawns. This neighborhood is lined with sidewalks and many families walk with their pets and children. Don't forget the very nice gated community pool!

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: 78130

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

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

Zip Code: 78130

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* 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
Oak Creek Elementary School Primary Regular 517 38 5
Church Hill Middle School Middle Regular 926 55 8
Canyon High School High Regular 2,341 129 6

Oak Creek Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 38
5
GreatSchools Rating

Church Hill Middle School

  • Education Level: Middle
  • # of students: 926
  • # of teachers: 55
8
GreatSchools Rating

Canyon High School

  • Education Level: High
  • # of students: 2,341
  • # of teachers: 129
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,162
Property Tax -$568
Property Insurance -$151
HOA -$33
Property Management Fees -$142
CASH FLOW
-$285

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
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$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,778

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6453$1,770
$1,770
RENT COMPS ANALYSIS
  • 3591 High Cloud Drive New Braunfels, TX 3
    • 3 beds 3 baths ∙ 2,142 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,142 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.83
    •  
  • 628 Northlake Dr New Braunfels, TX 1
    • 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,908 Sqft ∙ Built 2007
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.84
    •  
  • 222 Starling Creek New Braunfels, TX 2
    • 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2005
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.82
    •  
PROPERTY LISTING DETAILS
Chris Allen
1.830.837.1233
Bliss Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4720982
Last Updated: 11/02/2020
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