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601 Western Bit Horseshoe Bay, TX 78657

3 Beds 4 Baths 2,884 sqft Built 1986

$549,500

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $190.53
  • 2 Days on Market
  • MLS # : 9148549
  • Updated Date : 01/31/2021 at 03:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,884 sqft
  • Baths : 3 full , 1 half
Listing Agent

Horseshoe Bay Resort Realty

Listing Agent's Description

Very Rare Hillside home with massive VIEWS of Lake LBJ, Slick Rock Golf Course and the Texas Hill Country. Home has been lovingly cared for over the years. Back and side has deep covered porch, giving you a large space for entertaining and relaxing in the beautiful Hill Country environment. Home has split living areas (with separate keyed entrance) giving you the opportunity to create a rental if desired - or great for kids or parent/in-laws. Primary suite is large with beautiful views and large bath area w/2 walk-in closets. Must see this home in person to appreciate all it has to offer - your will definitely be pleased!

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

Neighborhood: Hills of Horseshoe Bay

ZipNIR Market*CityMarket2010Year2000 Q22019100k150k200k250k300k350k400kPrice in $91k408k

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

Neighborhood: Hills of Horseshoe Bay

Neighborhood2018 Q3Year20182019 Q21400150016001700Rent in $13901742

* 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
Llano High School High Regular 477 39 5

Llano High School

  • Education Level: High
  • # of students: 477
  • # of teachers: 39
5
GreatSchools Rating
 

$494,550$604,450$549,500

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,909
Property Tax -$792
Property Insurance -$187
HOA -$24
Property Management Fees -$99
CASH FLOW
-$511

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$549,500

PROJECTED PRICE

$2,500

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,368

INVESTMENT

$151,368

Down Payment
$137,375
Rehab Estimate
$5,750
Closing Costs
$8,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,909

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,375
Loan Amount $412,125
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,144

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,900
$2,900
RENT COMPS ANALYSIS
  • 601 Western Bit Horseshoe Bay, TX 1
    • 3 beds 4 baths ∙ 2,884 Sqft ∙ Built 1986 3 beds 4 baths ∙ 2,884 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 1120 Hi Fault Horseshoe Bay, TX 2
    • 3 beds 4 baths ∙ 2,661 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,661 Sqft ∙ Built 2019
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.09
    •  
PROPERTY LISTING DETAILS
Patti Cohen
1.512.595.2900
Horseshoe Bay Resort Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 9148549
Last Updated: 01/31/2021
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