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505 Washington Drive Liberty Hill, TX 78642

4 Beds 3 Baths 2,198 sqft Built 2020

$297,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $135.53
  • 14 Days on Market
  • MLS # : 5627529
  • Updated Date : 11/03/2020 at 01:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,198 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Shelby plan is a 2-story home with 4 bedrooms, 2.5 baths, an attached 2-car garage and thousands of dollars in upgrades. Stainless-steel kitchen appliances, granite countertops, designer wood cabinetry with crown molding, blinds throughout and a WiFi-enabled garage door opener are just a few of the remarkable upgrades included in this home. Outside, the Shelby plan has a large covered patio, a fully fenced backyard, a covered entryway, front yard landscaping and a gorgeous brick and stone exterior.

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $125k298k

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

Neighborhood: Block House Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211744

* 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
Pleasant Hill Elementary School Primary Regular 844 59 4
Wiley Middle School Middle Regular 967 63 8
Rouse High School High Regular 2,336 140 7

Pleasant Hill Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 59
4
GreatSchools Rating

Wiley Middle School

  • Education Level: Middle
  • # of students: 967
  • # of teachers: 63
8
GreatSchools Rating

Rouse High School

  • Education Level: High
  • # of students: 2,336
  • # of teachers: 140
7
GreatSchools Rating
 

$268,110$327,690$297,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,099
Property Tax -$582
Property Insurance -$151
HOA -$50
Property Management Fees -$141
CASH FLOW
-$263

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.

$297,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,944

INVESTMENT

$80,944

Down Payment
$74,475
Rehab Estimate
$2,000
Closing Costs
$4,469

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,475
Loan Amount $223,425
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,995

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,8503$1,8954$1,9945$2,000
$2,000
RENT COMPS ANALYSIS
  • 505 Washington Drive Liberty Hill, TX 1
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.80
    •  
  • 331 Quarry Lane Liberty Hill, TX 2
    • 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 2014
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 108 Freedom Park Ave Liberty Hill, TX 3
    • 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,025 Sqft ∙ Built 2019
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 317 Independence Ave Liberty Hill, TX 4
    • 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2018
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,994
    • $0.95
    •  
  • 121 Freedom Park Ave Liberty Hill, TX 5
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2019
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
PROPERTY LISTING DETAILS
Mona Hill
1.800.846.3085
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5627529
Last Updated: 11/03/2020
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