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373 Crimson Sky Ct 
Dripping Springs, TX
78620
3 Beds 2 Baths 1,943 sqft
Built 2020
INVESTimate
$438,237
List Price
$118,133
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PROPERTY INFO
FACTS
- Built In 2020
- Price/Sqft : $225.55
- 3 Days on Market
- MLS # : 6892056
- Updated Date : 08/25/2020 at 10:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,943 sqft
- Baths : 2 full
Listing Agent
David Weekley Homes
Listing Agent's Description
This Beautiful David Weekley Home sits on an incredible "Hill Country" greenbelt homesite. Enjoy entertaining family and friends in your beautiful kitchen that opens to the family room. Enjoy a hot cup of coffee on your covered rear patio as you take in all the Hill Country has to offer. This home boasts an open floor plan with tons of natural light and 10 foot ceilings throughout. Square footage is an estimate only; actual construction may vary.
SEE MORE
- 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: 78620
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 78620
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,410 |
| EXPENSES | Loan Payment | -$1,617 |
| Property Tax | -$745 | |
| Property Insurance | -$136 | |
| HOA | -$120 | |
| Property Management Fees | -$193 | |
|
CASH FLOW
-$401
|
||
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.
$438,237
PROJECTED PRICE
$2,410
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.79% |
| Appreciation Year (1-5) | 6.22% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.80% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$118,133
LOAN DETAILS
$1,617
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $109,559 |
| Loan Amount | $328,678 |
0.58
YEARS SAVED
$1,023
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,410
LIST RENT -
$1.24
LIST RENT PER SQFT
-
$2,468
COMP ESTIMATED VALUE -
$1.27
COMP AVG. RENT PER SQFT
Comps Range
-
373 Crimson Sky Ct Dripping Springs, 1
- 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $2,410
- $1.24
-
802 Oakwood Ln Dripping Springs, 2
- 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,212 Sqft ∙ Built 1994
LEASED 07/24/20- Rent
- Rent Per SQFT
- $2,800
- $1.27
PROPERTY LISTING DETAILS
1.512.821.8818
David Weekley Homes
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 6892056
Last Updated: 08/25/2020
