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4906 Madrid Drive Georgetown, TX 78628

3 Beds 2 Baths 1,647 sqft Built 2015

$299,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $181.54
  • 7 Days on Market
  • MLS # : 7101127
  • Updated Date : 12/14/2020 at 20:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,647 sqft
  • Baths : 2 full
Listing Agent

Summit Realtors

Listing Agent's Description

Former model home with special features. Open floorplan with beautiful kitchen with large island/bar great for entertaining. Crown molding with wide baseboards. Large pantry area in utility room. Private main bedroom with oversized walk in shower. Tile and wood flooring throughout except bedrooms. Fresh interior paint. Covered patio overlooks beautiful landscaping. Painted garage floor, sprinkler system and more.

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

Neighborhood: Georgetown Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Georgetown Village

NeighborhoodNIR 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
Raye Mccoy Elementary School Primary Regular 558 38 6
Charles A. Forbes Middle School Middle Regular 735 46 3
Georgetown High School High Regular 1,822 121 5

Raye Mccoy Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 38
6
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,103
Property Tax -$586
Property Insurance -$120
HOA -$8
Property Management Fees -$99
CASH FLOW
-$316

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.

$299,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 3.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 4906 Madrid Drive Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 105 Rosebud Lane Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 1118 Boxwood Loop Georgetown, TX 3
    • 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,769 Sqft ∙ Built 2007
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 803 Bedford Court Georgetown, TX 4
    • 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,757 Sqft ∙ Built 2005
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 505 Pinon Cv Georgetown, TX 5
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2015
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Carol Chafin
1.512.426.2343
Summit Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7101127
Last Updated: 12/14/2020
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