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506 Bluehaw Drive Georgetown, TX 78628

4 Beds 3 Baths 2,491 sqft Built 2010

$347,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $139.66
  • 3 Days on Market
  • MLS # : 3971564
  • Updated Date : 11/21/2020 at 22:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,491 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Military City

Listing Agent's Description

Come home to this attractive brick/stone move-in ready 4 bedroom, 2.5 bath home in the beautiful Georgetown Village! You will be amazed by the high soaring ceilings and large windows that bring in an abundance of natural lighting as well as beautiful wall stone accents! Kitchen opens to the living room and offers granite countertops, stainless appliances, large center island, and a breakfast bar surrounded by stone accents. Water softener is a plus! The main floor also provides a formal dining, office, and family room! The large downstairs primary suite boasts high angled ceilings, walk-in closets, and a full bath. Relax in the spacious primary bath that features designer dual vanities, walk-in shower, and separate garden tub. Escape to the upstairs oversized game room that may easily convert to a fitness or media room! Step outside to the immense private backyard that features a xeriscaped lawn and a gorgeous stone fire pit, perfect for entertaining family and friends on those cold winter nights! New owners will love the convenience of a nearby park, picnic area, playground, sports courts, walk/bike/hike, and jog trails. Close to Lake Georgetown, shopping, restaurants, and Georgetown schools, and 24/7 Maintenance! Call us for more information!

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: 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
 

$313,110$382,690$347,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,284
Property Tax -$682
Property Insurance -$167
HOA -$46
Property Management Fees -$162
CASH FLOW
-$312

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.

$347,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.58%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,944

INVESTMENT

$97,944

Down Payment
$86,975
Rehab Estimate
$5,750
Closing Costs
$5,219

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,975
Loan Amount $260,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9954$2,0005$2,030
$2,030
RENT COMPS ANALYSIS
  • 506 Bluehaw Drive Georgetown, TX 5
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.81
    •  
  • 903 Elmwood Dr Georgetown, TX 1
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 504 Tascate St Georgetown, TX 2
    • 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 2011
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 703 Westbury Ln Georgetown, TX 3
    • 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 2009
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 1049 Clove Hitch Rd Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 2014
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
PROPERTY LISTING DETAILS
Levi Rodgers
1.210.331.7000
Re/max Military City
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3971564
Last Updated: 11/21/2020
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