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610 Easton Drive San Marcos, TX 78666

3 Beds 2 Baths 1,897 sqft Built 2013

$285,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $150.24
  • 5 Days on Market
  • MLS # : 3108745
  • Updated Date : 12/04/2020 at 14:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,897 sqft
  • Baths : 2 full
Listing Agent

Real Broker Llc

Listing Agent's Description

Pristine home in Blanco Vista shows like a model. Meticulously maintained inside and out. Beautiful granite counters in the spacious kitchen is open to the living and breakfast areas. The formal dining room with wood floors could easily be converted to a bedroom or office. Tile floors in the main living areas for easy upkeep. Unwind and entertain on the covered back patio or watch the days go by on the covered front porch. Community offers pools, playground, hiking trails and nearby.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Zip Code: 78666

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6701723

* 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
Blanco Vista Elementary School Primary Regular 795 53 6
Wallace Middle School Middle Regular 908 47 4
Lehman High School High Regular 2,303 116 4

Blanco Vista Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 53
6
GreatSchools Rating

Wallace Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 47
4
GreatSchools Rating

Lehman High School

  • Education Level: High
  • # of students: 2,303
  • # of teachers: 116
4
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,052
Property Tax -$585
Property Insurance -$134
HOA -$30
Property Management Fees -$99
CASH FLOW
-$99

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.

$285,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.13%
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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8004$1,8255$1,900
$1,900
RENT COMPS ANALYSIS
  • 610 Easton Drive San Marcos, TX 3
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 147 Gambel Oak Way San Marcos, TX 1
    • 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,699 Sqft ∙ Built 2015
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 149 Fort Griffin Drive San Marcos, TX 2
    • 4 beds 3 baths ∙ 1,734 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,734 Sqft ∙ Built 2014
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
  • 226 Hay Barn Street San Marcos, TX 4
    • 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 2013
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.06
    •  
  • 117 Lacey Oak Loop San Marcos, TX 5
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2020
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
PROPERTY LISTING DETAILS
Matthew Mittelstadt
1.512.939.9556
Real Broker Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3108745
Last Updated: 12/04/2020
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