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538 Westbury Lane Georgetown, TX 78633

3 Beds 2 Baths 1,603 sqft Built 2002

$270,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $168.43
  • 7 Days on Market
  • MLS # : 3744976
  • Updated Date : 11/17/2020 at 19:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

Fuse Realty, Llc

Listing Agent's Description

Great Location!! Property backs up to Village Elementary - NO HOA but restrictions are enforced - City pool only blocks away - Adorable 3 Bedroom, 2 Bath Home with NO Carpet, Beautiful Wood Floors, Freshly Painted - Stainless Steel Appliances - Updated Fixtures, Hardware. Recent Roof Replaced - High Ceilings - Covered Rear Porch with Private Back Yard and Patio. Chandelier in Master Bedroom does NOT convey. Piano in Den could convey. This Beautiful Home is Move In Ready and won't Last Long!!!! Please 2 hour notice and Text Listing Agent for Showing Times.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Neighborhood: Georgetown Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Georgetown Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9972157

* 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
Village Elementary School Primary Regular 370 29 7
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Village Elementary School

  • Education Level: Primary
  • # of students: 370
  • # of teachers: 29
7
GreatSchools Rating

Douglas Benold Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 53
5
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$996
Property Tax -$529
Property Insurance -$117
Property Management Fees -$133
CASH FLOW
-$116

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.

$270,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 3.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6953$1,9004$1,995
$1,995
RENT COMPS ANALYSIS
  • 538 Westbury Lane Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.04
    •  
  • 105 Rosebud Lane Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 203 Village Park Drive Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.09
    •  
  • 367 Sedro Trl Georgetown, TX 4
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jeffery Clark
1.512.966.3323
Fuse Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3744976
Last Updated: 11/17/2020
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