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417 Shadowpoint Drive San Marcos, TX 78666

3 Beds 2 Baths 1,620 sqft Built 2012

$225,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $138.89
  • 5 Days on Market
  • MLS # : 2312723
  • Updated Date : 10/30/2020 at 19:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to this one-story home in Blanco River Village! This home holds amazing curb appeal with ample garden beds and extensive stone porch. Step inside and instantly notice the tile floors that lead you throughout the open floor plan. The Formal Dining space welcomes you and features recessed and track lighting. The spacious Kitchen is equipped with Black Appliances, Center Island, and an Abundance of Cabinetry. Hosting dinner parties and gatherings will be a breeze as the kitchen opens up to the living and formal dining space, while hosting bar top seating - perfect for extra guests! The Living Room is surrounded by XL windows that flood the home with natural light. The over-sized Master Suite showcases a full bathroom with a Spa Style Shower, Double Vanity, Private Wash Room, and Walk-in Closet. Make your way to the private backyard where you can relax and unwind on the partially covered patio or work on projects in the detached garage! Just moments away from Blanco River Access, Shopping, Texas State University, Dining, Tanger Outlets, and Much More!

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: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Travis Elementary School Primary Regular 679 41 3
Owen Goodnight Middle School Middle Regular 1,043 69 4
San Marcos High School High Regular 2,162 148 3

Travis Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 41
3
GreatSchools Rating

Owen Goodnight Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 69
4
GreatSchools Rating

San Marcos High School

  • Education Level: High
  • # of students: 2,162
  • # of teachers: 148
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$830
Property Tax -$476
Property Insurance -$118
HOA -$37
Property Management Fees -$116
CASH FLOW
-$127

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,580

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,7504$1,750
$1,750
RENT COMPS ANALYSIS
  • 417 Shadowpoint Drive San Marcos, TX 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 703 Sturgeon St San Marcos, TX 2
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2008
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 335 Rachel San Marcos, TX 3
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2015
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 320 Perry Street San Marcos, TX 4
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2015
    property image
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Erin Leff
1.512.953.7244
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2312723
Last Updated: 10/30/2020
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