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520 Peakside Circle Dripping Springs, TX 78620

4 Beds 4 Baths 2,961 sqft Built 2018

$475,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $160.42
  • 4 Days on Market
  • MLS # : 9955249
  • Updated Date : 11/13/2020 at 14:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,961 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This gorgeous Scott Felder home features a well appointed kitchen with breakfast bar, quartz countertops, farmhouse sink and ample storage. The kitchen is open to the family room which boasts a stone fireplace and wood floors. The primary bedroom features large windows overlooking the hill country and a spa-like bath with frameless shower. The study is conveniently located off of the breakfast dining area and the secondary bedrooms are separated from the main living area for additional privacy. This home backs to a ranch so there are no neighbors behind. You can enjoy the hill country views when relaxing on the extended covered back patio.

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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,753
Property Tax -$816
Property Insurance -$194
HOA -$125
Property Management Fees -$211
CASH FLOW
-$459

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$702

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,616

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$2,6403$2,7004$2,900
$2,900
RENT COMPS ANALYSIS
  • 520 Peakside Circle Dripping Springs, TX 2
    • 4 beds 4 baths ∙ 2,961 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,961 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.89
    •  
  • 27005 Ranch Road 12 Dripping Springs, TX 1
    • 3 beds 2 baths ∙ 2,665 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,665 Sqft ∙ Built 1994
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.64
    •  
  • 273 Diamond Point Drive Dripping Springs, TX 3
    • 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2017
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.00
    •  
  • 1165 Trebled Waters Trail Driftwood, TX 4
    • 4 beds 4 baths ∙ 2,882 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,882 Sqft ∙ Built 2007
    LEASED 08/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.01
    •  
PROPERTY LISTING DETAILS
Deanna Scott
1.512.461.0973
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9955249
Last Updated: 11/13/2020
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