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3950 Turtle Creek New Braunfels, TX 78132

3 Beds 2 Baths 1,305 sqft Built 2021

$234,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2021 NEW CONSTRUCTION
February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $180.00
  • 4 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,305 sqft
  • Baths : 2 full
Listing Agent

Tobin

Listing Agent's Description

The Pecan plan is a thoughtfully designed one-story home at Morningside Trails with a functional layout, perfect for any family's lifestyle. This home features three impressively sized bedrooms with large closets, as well as a spacious family room. The Pecan plan is sure to have the space your family needs at a price you'll love.

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MARKET HIGHLIGHTS

  • The metro contributes to 7.2 percent of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • San Antonio metro economy is worth $130 billion in Gross Metro Product and projected to grow to $136 billion in 2019 (USMayors.org, 2018)
  • Five Fortune 500 companies are headquartered in San Antonio: Valero Energy; Tesoro; United Services Automobile Association (USAA); CST Brands; and iHeart Media (Formerly CC Media Holdings).
  • The metro employment growth is at 2.3 per cent and predicted to be at 2.2% in 2019 (USMayors.org, 2018)
  • San Antonio metro has 60.7 percent labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 78132

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $91k401k

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

Zip Code: 78132

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8692286

* 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
Lamar Elementary School Primary Regular 470 26 7
Oakrun Middle School Middle Regular 973 52 6
New Braunfels High School High Regular 1,711 94 6

Lamar Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 26
7
GreatSchools Rating

Oakrun Middle School

  • Education Level: Middle
  • # of students: 973
  • # of teachers: 52
6
GreatSchools Rating

New Braunfels High School

  • Education Level: High
  • # of students: 1,711
  • # of teachers: 94
6
GreatSchools Rating
 

$211,410$258,390$234,900

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 -$816
Property Tax -$333
Property Insurance -$52
Property Management Fees -$99
CASH FLOW
$550

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$234,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.11%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 3.00%
Vacancy 9.32%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,249

INVESTMENT

$64,249

Down Payment
$58,725
Rehab Estimate
$2,000
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

14.42

YEARS SAVED

$57,511

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy