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508 Golden Grove Parkway San Marcos, TX 78666

4 Beds 3 Baths 2,170 sqft Built 2021

$282,190

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $130.04
  • 4 Days on Market
  • MLS # : 2112044
  • Updated Date : 01/14/2021 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,170 sqft
  • Baths : 3 full
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

NO INVESTOR PURCHASES AT THIS TIME. UNDER CONSTRUCTION - EST COMPLETION IN JUNE. The Midland is a two story 2,170 square foot home with 2 bedrooms downstairs, 2 bedrooms upstairs, gameroom upstairs, 3 bathrooms, and a 2 car garage. The open-concept layout of our main level on the Midland plan is perfect for entertaining and family gatherings. The kitchen is equipped with stainless steel appliances, natural gas cooktop, granite countertops with undermount sink, and subway tile backsplash. Vinyl wood flooring throughout the home and wet areas, with carpet only in the bedrooms and closets. Large primary bedroom located off the family room with a spacious bathroom offering 2 sinks at vanity, large walk-in closet, and oversized walk-in shower. Outside enjoy the covered back patios, full sod, irrigation system, and gutters. This home is a MUST SEE in San Marcos's new community, WHISPER. Contact us today to set up a showing!

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Blanco Vista Elementary School Primary Regular 795 53 6
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Blanco Vista Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 53
6
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$253,971$310,409$282,190

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$980
Property Tax -$579
Property Insurance -$149
HOA -$35
Property Management Fees -$99
CASH FLOW
-$32

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$282,190

PROJECTED PRICE

$1,810

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.13%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$76,780

INVESTMENT

$76,780

Down Payment
$70,548
Rehab Estimate
$2,000
Closing Costs
$4,233

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,548
Loan Amount $211,643
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$10,178

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,769

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,8103$1,8504$2,000
$2,000
RENT COMPS ANALYSIS
  • 508 Golden Grove Parkway San Marcos, TX 2
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.83
    •  
  • 153 Backhorn Ln San Marcos, TX 1
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2016
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 141 Silo Street San Marcos, TX 3
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 2009
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 106 Silo St San Marcos, TX 4
    • 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,422 Sqft ∙ Built 2014
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
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 #: 2112044
Last Updated: 01/14/2021
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