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404 Colthorpe Ln Hutto, TX 78634

4 Beds 2 Baths 1,904 sqft Built 2020

INVESTimate

$288,990

List Price

$1,760

$1,584 - $1,936

Rent Est.

$307,601  ( +6.44%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $151.78
  • 8 Days on Market
  • MLS # : 2122981
  • Updated Date : 08/19/2020 at 15:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,904 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready February 2021! The family chef will appreciate the Somerset’s gourmet peninsula kitchen overlooking the family room and breakfast nook. The private owner’s suite offers a retreat after a long day. Enjoy being tucked away in a peaceful, quiet community. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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

Zip Code: 78634

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $117k298k

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

Zip Code: 78634

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471723

* 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
Hutto Elementary School Primary Regular 644 40 7
Hutto Middle School Middle Regular 708 46 6
Hutto High School High Regular 1,666 99 6

Hutto Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 40
7
GreatSchools Rating

Hutto Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 46
6
GreatSchools Rating

Hutto High School

  • Education Level: High
  • # of students: 1,666
  • # of teachers: 99
6
GreatSchools Rating
 

$260,091$317,889$288,990

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,066
Property Tax -$677
Property Insurance -$134
HOA -$20
Property Management Fees -$141
CASH FLOW
-$278

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.

$288,990

PROJECTED PRICE

$1,760

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.44%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,582

INVESTMENT

$78,582

Down Payment
$72,248
Rehab Estimate
$2,000
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,248
Loan Amount $216,743
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,752

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7504$1,7605$1,800
$1,800
RENT COMPS ANALYSIS
  • 404 Colthorpe Ln Hutto, 4
    • 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,904 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.92
    •  
  • 112 Craft Hutto, 1
    • 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,869 Sqft ∙ Built 2019
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 118 Harlan Dr Hutto, 2
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 2020
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 502 Marimoor Dr Hutto, 3
    • 4 beds 2 baths ∙ 1,861 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,861 Sqft ∙ Built 2019
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 211 Colthorpe Ln Hutto, 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2019
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
1.512.629.4581
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2122981
Last Updated: 08/19/2020
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