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3709 Cinkapin Drive San Marcos, TX 78666

4 Beds 4 Baths 2,881 sqft Built 2018

$410,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $142.31
  • 2 Days on Market
  • MLS # : 9282916
  • Updated Date : 02/14/2021 at 04:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,881 sqft
  • Baths : 3 full , 1 half
Listing Agent

Sundance Homes & Realty

Listing Agent's Description

Gorgeous 4 bedroom, 4 bath home with great room and study in the beautiful master planned community of Blanco Vista. Great use of space in this open floor plan with tile floors, granite countertops, stainless steel appliances and recessed lighting. With almost 2,900 sqft I'm sure it can handle all of your needs and wants. Community does include splash pad, pool, hiking and biking trails. Opportunity's like this don't last long!

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: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Blanco Vista Elementary School Primary Regular 795 53 6
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Blanco Vista Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 53
6
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,424
Property Tax -$841
Property Insurance -$189
HOA -$38
Property Management Fees -$99
CASH FLOW
-$292

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$410,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,353

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,3004$2,400
$2,400
RENT COMPS ANALYSIS
  • 3709 Cinkapin Drive San Marcos, TX 3
    • 4 beds 4 baths ∙ 2,881 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,881 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 237 Pincea Place San Marcos, TX 1
    • 3 beds 2 baths ∙ 2,546 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,546 Sqft ∙ Built 2014
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 759 Easton Dr San Marcos, TX 2
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2015
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 607 Easton Drive San Marcos, TX 4
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2013
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Thomas Yankovoy
Sundance Homes & Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9282916
Last Updated: 02/14/2021
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