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409 Serpens Street Georgetown, TX 78628

4 Beds 3 Baths 2,060 sqft Built 2020

$318,070

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $154.40
  • 4 Days on Market
  • MLS # : 7891315
  • Updated Date : 11/12/2020 at 18:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,060 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready February 2021! Backing to protected green belt. Yosemite plan offers open living area, private primary suite with large walk-in closet for ample storage, and second-story game room. Linen cabinets with white granite countertops, brown grey EVP flooring with multi-tone carpet in our Elemental package. Community amenities include a clubhouse, pool, trails, and more. 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 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: 78628

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Zip Code: 78628

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Bill Burden Elementary School Primary Regular 674 47 7
Liberty Hill Junior High School Middle Regular 501 34 8
Liberty Hill High School High Regular 1,015 63 6

Bill Burden Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 47
7
GreatSchools Rating

Liberty Hill Junior High School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 34
8
GreatSchools Rating

Liberty Hill High School

  • Education Level: High
  • # of students: 1,015
  • # of teachers: 63
6
GreatSchools Rating
 

$286,263$349,877$318,070

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,174
Property Tax -$643
Property Insurance -$143
HOA -$35
Property Management Fees -$162
CASH FLOW
-$127

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.

$318,070

PROJECTED PRICE

$2,030

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.80%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,289

INVESTMENT

$86,289

Down Payment
$79,518
Rehab Estimate
$2,000
Closing Costs
$4,771

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,174

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,518
Loan Amount $238,553
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,849

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9504$2,0155$2,030
$2,030
RENT COMPS ANALYSIS
  • 409 Serpens Street Georgetown, TX 5
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.99
    •  
  • 125 Kavanaugh St Georgetown, TX 1
    • 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2017
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 228 Mcfarland St Georgetown, TX 2
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 2019
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
  • 105 Tucana Street Georgetown, TX 3
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 2020
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
  • 108 Alpine Street Georgetown, TX 4
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2020
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.96
    •  
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 #: 7891315
Last Updated: 11/12/2020
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