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432 Granite Rock Lane Georgetown, TX 78628

3 Beds 3 Baths 2,197 sqft Built 2017

$374,990

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $170.68
  • 4 Days on Market
  • MLS # : 8484055
  • Updated Date : 11/20/2020 at 14:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,197 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Austin

Listing Agent's Description

Open concept floor plan with a spacious family/living area that opens up to the dining room and kitchen. The kitchen features an over-sized island, custom cabinets, stainless steel appliances, and granite countertops. The family/ living room features a sloped ceiling and opens up to the extended covered patio. The master bedroom includes a bay window, a sloped ceiling, and a large spacious walk-in closet. This home has it all including a study/playroom. It has an abundance of wood flooring throughout with the exception of the bathrooms and laundry room. Pride in ownership shines! Don't miss out on this extremely well maintained home!

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

Neighborhood: Wolf Ranch

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Wolf Ranch

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
Dell Pickett Elementary School Primary Regular 337 28 5
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

Dell Pickett Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 28
5
GreatSchools Rating

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

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

$337,491$412,489$374,990

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,384
Property Tax -$735
Property Insurance -$151
HOA -$67
Property Management Fees -$171
CASH FLOW
-$367

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.

$374,990

PROJECTED PRICE

$2,140

PROJECTED RENT

0.57%

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) 8.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,122

INVESTMENT

$105,122

Down Payment
$93,748
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,748
Loan Amount $281,243
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$2,1404$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 432 Granite Rock Lane Georgetown, TX 3
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.97
    •  
  • 110 Ridge Oak Drive Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1975
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 503 San Gabriel Overlook Georgetown, TX 2
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1980
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 210 Cassidy Drive Georgetown, TX 4
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 1995
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 421 Granite Rock Lane Georgetown, TX 5
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 2018
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Katherine Johnson
1.972.921.2025
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8484055
Last Updated: 11/20/2020
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