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3605 Penelope Way Round Rock, TX 78665

3 Beds 2 Baths 2,053 sqft Built 2012

$325,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $158.30
  • 3 Days on Market
  • MLS # : 7930182
  • Updated Date : 11/21/2020 at 00:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,053 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-rr (wc)

Listing Agent's Description

Beautiful home loaded with upgrades! 3 bedrooms + study & formal dining room with plantation shutters. Gourmet kitchen with double ovens, gas cooktop, tons of cabinets, built in desk, pantry, breakfast bar, and center island overlooking the breakfast room with window seat and living room. Primary room and study (with french doors) have new laminate floors. Secondary bedrooms have new carpet. High ceilings, open and bright.

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: Paloma Lake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $133k410k

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

Neighborhood: Paloma Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9972235

* 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
Herrington Elementary School Primary Unknown 847 57 NA
Hopewell Middle School Middle Regular 967 62 8
Stony Point High School High Regular 2,463 173 6

Herrington Elementary School

  • Education Level: Primary
  • # of students: 847
  • # of teachers: 57
NA
GreatSchools Rating

Hopewell Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 62
8
GreatSchools Rating

Stony Point High School

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 173
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,199
Property Tax -$641
Property Insurance -$143
HOA -$48
Property Management Fees -$148
CASH FLOW
-$329

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

$1,850

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.4%
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-$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

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.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,835
1$1,8352$1,8503$1,8954$1,9255$2,000
$2,000
RENT COMPS ANALYSIS
  • 3605 Penelope Way Round Rock, TX 2
    • 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,053 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 1325 Chad Drive Round Rock, TX 1
    • 4 beds 3 baths ∙ 1,966 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,966 Sqft ∙ Built 2019
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.93
    •  
  • 6012 Agostino Cove Round Rock, TX 3
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2019
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 3724 Rosalina Loop Round Rock, TX 4
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2009
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.99
    •  
  • 2720 Emilia Ln Round Rock, TX 5
    • 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,950 Sqft ∙ Built 2010
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
PROPERTY LISTING DETAILS
Shavonne Martin
1.512.786.7660
Keller Williams Realty-rr (wc)
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7930182
Last Updated: 11/21/2020
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