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516 Otto Ave Georgetown, TX 78626

4 Beds 3 Baths 2,268 sqft Built 2020

INVESTimate

$267,990

List Price

$2,010

$1,809 - $2,211

Rent Est.

$285,999  ( +6.72%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $118.16
  • 6 Days on Market
  • MLS # : 6699947
  • Updated Date : 08/24/2020 at 17:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,268 sqft
  • Baths : 2 full , 1 half
Listing Agent

D.r. Horton, America's Builder

Listing Agent's Description

Under construction-est. completion in Jan 2021. Beautiful 2268 sqft, 2 story home in Fairhaven in Georgetown with 4 beds, game room, 2.5 baths, luxurious open-concept kitchen with island, large pantry, generously-sized granite counter tops, spacious cabinets with crown molding, plus natural gas stainless-steel appliances! Beautiful Master suite includes a large closet & spacious walk-in tiled shower with double vanities. 3 more beds, a full bath & large laundry room. Full sod & irrigation

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: 78626

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $120k315k

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

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441816

* 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
Carver Elementary School Primary Regular 429 29 3
George Wagner Middle School Middle Regular NA
East View High School High Regular 1,418 110 4

Carver Elementary School

  • Education Level: Primary
  • # of students: 429
  • # of teachers: 29
3
GreatSchools Rating

George Wagner Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$241,191$294,789$267,990

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$989
Property Tax -$526
Property Insurance -$155
HOA -$63
Property Management Fees -$161
CASH FLOW
$116

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.

$267,990

PROJECTED PRICE

$2,010

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.72%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,017

INVESTMENT

$73,017

Down Payment
$66,998
Rehab Estimate
$2,000
Closing Costs
$4,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,998
Loan Amount $200,993
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$23,680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9453$1,9504$2,0105$2,150
$2,150
RENT COMPS ANALYSIS
  • 516 Otto Ave Georgetown, 4
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.89
    •  
  • 106 Mooncoin Dr Georgetown, 1
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2019
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.83
    •  
  • 109 Kleberg Ct Georgetown, 2
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.88
    •  
  • 132 Shiner Ln Georgetown, 3
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 2019
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 437 Otto Ave Georgetown, 5
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 2019
    property image
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
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 #: 6699947
Last Updated: 08/24/2020
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