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500 Florenz Lane Georgetown, TX 78628

4 Beds 2 Baths 2,025 sqft Built 2020

$304,490

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $150.37
  • 3 Days on Market
  • MLS # : 5323290
  • Updated Date : 11/06/2020 at 22:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,025 sqft
  • Baths : 2 full
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

UNDER CONSTRUCTION - EST. COMPLETION IN APR/MAY 2021. Detached condo with front yard mowed included in HOA dues. Home has no neighbor to the rear. Open floor plan with vinyl plank flooring in entry, wet areas, kitchen and family/living area. Silestone countertops with undermount sink, decorative backsplash and stainless-steel gas appliances. 36' kitchen cabinets, Smart Home package, full sod and irrigation. Gutters included. Resort style amenities included in the exclusive Rancho Sienna Neighborhood

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
 

$274,041$334,939$304,490

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,123
Property Tax -$615
Property Insurance -$141
HOA -$159
Property Management Fees -$169
CASH FLOW
-$97

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.

$304,490

PROJECTED PRICE

$2,110

PROJECTED RENT

0.69%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,690

INVESTMENT

$82,690

Down Payment
$76,123
Rehab Estimate
$2,000
Closing Costs
$4,567

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,123

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,123
Loan Amount $228,368
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,872

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,081

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0954$2,1105$2,200
$2,200
RENT COMPS ANALYSIS
  • 500 Florenz Lane Georgetown, TX 4
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.04
    •  
  • 116 Martino Trail Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2016
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
  • 313 Penna Lane Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 2017
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 401 Penna Lane Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2015
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.02
    •  
  • 101 Fosini Cove Georgetown, TX 5
    • 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 2015
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
PROPERTY LISTING DETAILS
Dave Clinton
1.512.270.6196
D.r. Horton, America's Builder
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5323290
Last Updated: 11/06/2020
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