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513 Elworth Path Lakeway, TX 78669

3 Beds 3 Baths 2,467 sqft Built 2021

$541,990

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $219.70
  • 6 Days on Market
  • MLS # : 7786195
  • Updated Date : 01/07/2021 at 19:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,467 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rgs Realty Llc

Listing Agent's Description

The Briscoe is a cute one story home. 3 bedrooms, 2 full bathrooms and a powder room. Home office and a flex room. Open floor plan with a fireplace in the family room and a lovely outdoor covered patio. 2467 Square Feet with a 2 car garage.

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: 78669

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $136k768k

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

Zip Code: 78669

ZipNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000320034003600Rent in $9973714

* 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
Serene Hills Elementary School Primary Regular 762 46 10
Lake Travis Middle School Middle Regular 1,066 64 10
Lake Travis High School High Regular 2,561 141 8

Serene Hills Elementary School

  • Education Level: Primary
  • # of students: 762
  • # of teachers: 46
10
GreatSchools Rating

Lake Travis Middle School

  • Education Level: Middle
  • # of students: 1,066
  • # of teachers: 64
10
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$487,791$596,189$541,990

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$1,883
Property Tax -$997
Property Insurance -$166
HOA -$200
Property Management Fees -$99
CASH FLOW
-$315

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.

$541,990

PROJECTED PRICE

$3,030

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 3.00%
Vacancy 7.15%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,627

INVESTMENT

$145,627

Down Payment
$135,498
Rehab Estimate
$2,000
Closing Costs
$8,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,883

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,498
Loan Amount $406,493
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $3,078

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$3,0004$3,0305$3,150
$3,150
RENT COMPS ANALYSIS
  • 513 Elworth Path Lakeway, TX 4
    • 3 beds 3 baths ∙ 2,467 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,467 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $1.23
    •  
  • 117 Beneteau Drive Austin, TX 1
    • 4 beds 4 baths ∙ 2,422 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,422 Sqft ∙ Built 2016
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.20
    •  
  • 218 Gulfton St Lakeway, TX 2
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2019
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.34
    •  
  • 3606 Crosswind Drive Spicewood, TX 3
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 1985
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.26
    •  
  • 211 Cartwheel Bend #25 Lakeway, TX 5
    • 3 beds 4 baths ∙ 2,650 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,650 Sqft ∙ Built 2018
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.19
    •  
PROPERTY LISTING DETAILS
Robert Smith
1.512.784.0221
Rgs Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7786195
Last Updated: 01/07/2021
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