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402 Green Slope Lane Georgetown, TX 78626

3 Beds 2 Baths 1,741 sqft Built 2010

$274,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $157.90
  • 4 Days on Market
  • MLS # : 6945856
  • Updated Date : 01/08/2021 at 18:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full
Listing Agent

Century 21 Hellmann Stribling

Listing Agent's Description

Wait until you see this property. This house has a completely new personality. It has so many updates and the most fabulous outdoor living area that you will not likely see in another house in this price range. The metal roof on the covered patio was just replaced. Across the street is a city park and a city pool. This home sits on a corner lot...unique to the park & an actual parking area. The fence was recently replaced & stained in a natural stain. The interior of the home has been completely re-painted, walls & ceilings. The baseboards were all replaced & re-painted as well. NO carpet in this home. The tasteful & practical wood laminate flooring is throughout the home...kitchen & baths included. Tile surround on fireplace was recently added. Kitchen sink & faucet just replaced. Kitchen features electric range w/double oven & glass stove top, dishwasher, disposal. Plumbing fixtures in bathrooms just replaced. One living area, 2 dining areas. "Formal dining room" is open to the family room & could easily be used as a flex space. Currently used as a home office, this is a true bonus. On to the outdoor living. Incredible outdoor space to visit with family and friends while cooking on the gas grill or built in smoker, watching football, serving your favorite drink from the mini-fridge. 2 storage buildings on the side of the home w/a stone walkway. 2 car garage has built-ins on both side walls & a work area as well. Primary suite has a flex room with French Doors only accessible by the primary bedroom. I can see this room as an office or craft room or even a nursery. Utility room is currently using a stacked washer/dryer set, but will definitely accommodate side by side washer/dryer. Do not miss this house!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $120k315k

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

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441816

* 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
Carver Elementary School Primary Regular 429 29 3
George Wagner Middle School Middle Regular NA
East View High School High Regular 1,418 110 4

Carver Elementary School

  • Education Level: Primary
  • # of students: 429
  • # of teachers: 29
3
GreatSchools Rating

George Wagner Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$955
Property Tax -$539
Property Insurance -$125
HOA -$37
Property Management Fees -$99
CASH FLOW
-$75

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.

$274,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,702

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6803$1,7004$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 402 Green Slope Lane Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.96
    •  
  • 205 Green Slope Lane Georgetown, TX 1
    • 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,717 Sqft ∙ Built 2006
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.95
    •  
  • 1019 Plateau Trail Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2014
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.02
    •  
  • 613 Pinnacle Drive Georgetown, TX 4
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2015
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 708 Pinnacle Drive Georgetown, TX 5
    • 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,798 Sqft ∙ Built 2015
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Paula Brent
1.512.818.4232
Century 21 Hellmann Stribling
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6945856
Last Updated: 01/08/2021
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