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3702 Austin Cove Lago Vista, TX 78645

3 Beds 2 Baths 2,038 sqft Built 2020

INVESTimate

$287,268

List Price

$2,040

$1,836 - $2,244

Rent Est.

$312,892  ( +8.92%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $140.96
  • 8 Days on Market
  • MLS # : 8210039
  • Updated Date : 08/19/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,038 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 8210039 - Built by Brohn Homes - January completion! ~ This beautiful 2038 sq ft home will be complete for move-in Jan 2020. This home features a private study, stainless steel appliances, and 42” kitchen cabinet uppers. The master bathroom offers an extended walk-in shower with a raised dual vanity. **Photos not of actual home**

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: Highland Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $135k410k

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

Neighborhood: Highland Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Lago Vista Elementary School Primary Regular 526 34 5
Lago Vista Middle School Middle Regular 398 26 6
Lago Vista High School High Regular 442 29 7

Lago Vista Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 34
5
GreatSchools Rating

Lago Vista Middle School

  • Education Level: Middle
  • # of students: 398
  • # of teachers: 26
6
GreatSchools Rating

Lago Vista High School

  • Education Level: High
  • # of students: 442
  • # of teachers: 29
7
GreatSchools Rating
 

$258,541$315,995$287,268

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,060
Property Tax -$671
Property Insurance -$142
HOA -$13
Property Management Fees -$163
CASH FLOW
-$9

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.

$287,268

PROJECTED PRICE

$2,040

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 8.92%
Maintenance Year (1-5) 3.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,126

INVESTMENT

$78,126

Down Payment
$71,817
Rehab Estimate
$2,000
Closing Costs
$4,309

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,060

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,817
Loan Amount $215,451
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,880

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$1,8754$1,9455$2,040
$2,040
RENT COMPS ANALYSIS
  • 3702 Austin Cove Lago Vista, 5
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.00
    •  
  • 21000 National Dr Lago Vista, 1
    • 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 1999
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.89
    •  
  • 20403 Bear Rd Lago Vista, 2
    • 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 4007 Rockwood Dr Lago Vista, 3
    • 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,038 Sqft ∙ Built 2018
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.92
    •  
  • 3924 Outpost Trce Lago Vista, 4
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1986
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ben Caballero
1.888.872.6006
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8210039
Last Updated: 08/19/2020
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