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514 Climbing Rock Loop Dripping Springs, TX 78620

3 Beds 3 Baths 2,125 sqft Built 2021

INVESTimate

$407,640

List Price

$2,300

$2,070 - $2,530

Rent Est.

$432,995  ( +6.22%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $191.83
  • 3 Days on Market
  • MLS # : 2000522
  • Updated Date : 08/24/2020 at 10:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,125 sqft
  • Baths : 2 full , 1 half
Listing Agent

Austin Real Estate Experts

Listing Agent's Description

NEW CONSTRUCTION BY PULTE HOMES! Available Feb 2021! Open design 1-story featuring a gourmet kitchen with gray and white 42" cabinets, quartz countertops, and built-in appliances with modern style canopy hood. Rich enhanced vinyl plank throughout common areas. The sunroom off the gathering room can easily double as an office. Large spa-style shower in owner's bath. Many more upgrades makes this home a must see!

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: 78620

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k461k

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

Zip Code: 78620

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9972218

* 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
Walnut Springs Elementary School Primary Regular 857 55 7
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Walnut Springs Elementary School

  • Education Level: Primary
  • # of students: 857
  • # of teachers: 55
7
GreatSchools Rating

Dripping Springs Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 64
8
GreatSchools Rating

Dripping Springs High School

  • Education Level: High
  • # of students: 1,586
  • # of teachers: 92
8
GreatSchools Rating
 

$366,876$448,404$407,640

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,504
Property Tax -$701
Property Insurance -$147
HOA -$125
Property Management Fees -$184
CASH FLOW
-$360

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.

$407,640

PROJECTED PRICE

$2,300

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.22%
Maintenance Year (1-5) 3.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,025

INVESTMENT

$110,025

Down Payment
$101,910
Rehab Estimate
$2,000
Closing Costs
$6,115

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,504

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,910
Loan Amount $305,730
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,327

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,3004$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 514 Climbing Rock Loop Dripping Springs, 3
    • 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,125 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.08
    •  
  • 273 Spanish Star Trl Dripping Springs, 1
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2017
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
  • 247 Spanish Star Trl Dripping Springs, 2
    • 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 2017
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 178 Spanish Star Trl Dripping Springs, 4
    • 4 beds 4 baths ∙ 2,394 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,394 Sqft ∙ Built 2018
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
  • 1166 Grant Wood Ave Dripping Springs, 5
    • 4 beds 3 baths ∙ 2,164 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,164 Sqft ∙ Built 2020
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.25
    •  
PROPERTY LISTING DETAILS
Matthew Menard
1.512.947.8787
Austin Real Estate Experts
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2000522
Last Updated: 08/24/2020
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