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514 Hetherly Street Lampasas, TX 76550

3 Beds 2 Baths 1,428 sqft Built 2021

$210,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $147.06
  • 5 Days on Market
  • MLS # : 2941179
  • Updated Date : 01/28/2021 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,428 sqft
  • Baths : 2 full
Listing Agent

The Kuker Company

Listing Agent's Description

New 3/2/2 home with a garage on a corner lot. This home features granite countertops, subway tile backsplash, vinyl plank floors, fenced yard, full sod and sprinkler system. Approximately 1428 SF with a split bedroom floor plan, high ceilings, and all electric appliances. The property is located only a few blocks from the courthouse square in Lampasas. There are three of these homes on Hetherly St. Be the first to buy one of these lovely new homes. All have stone or brick fronts & features.

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: 76550

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180kPrice in $90k187k

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

Zip Code: 76550

ZipNIR Market*CityMarket2015Year2009 Q32019 Q2920940960980100010201040106010801100112011401160Rent in $9101171

* 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
Hanna Springs Elementary School Primary Regular 636 42 4
Lampasas Middle School Middle Regular 766 54 5
Lampasas High School High Regular 1,020 69 7

Hanna Springs Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 42
4
GreatSchools Rating

Lampasas Middle School

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 54
5
GreatSchools Rating

Lampasas High School

  • Education Level: High
  • # of students: 1,020
  • # of teachers: 69
7
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$729
Property Tax -$442
Property Insurance -$102
Property Management Fees -$99
CASH FLOW
-$132

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 1.4%
Maintenance Year (1-5) 3.00%
Vacancy 8.48%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,650

INVESTMENT

$57,650

Down Payment
$52,500
Rehab Estimate
$2,000
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$332

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,221

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,2003$1,240
$1,240
RENT COMPS ANALYSIS
  • 514 Hetherly Street Lampasas, TX 3
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.87
    •  
  • 211 S Rice Street Lampasas, TX 1
    • 3 beds 1 baths ∙ 1,136 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,136 Sqft ∙ Built 1965
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.84
    •  
  • 1206 E Avenue F Lampasas, TX 2
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2015
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ronald Kuker
1.512.556.7270
The Kuker Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2941179
Last Updated: 01/28/2021
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