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612 Scenic Bluff Drive Georgetown, TX 78628

4 Beds 3 Baths 2,413 sqft Built 2018

$374,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $155.37
  • 8 Days on Market
  • MLS # : 5963209
  • Updated Date : 10/27/2020 at 17:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,413 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-gt

Listing Agent's Description

Tour this beautiful 1.5 story home built by Omega Builders in 2018 that is truly move-in ready. Crown molding, trayed ceilings, stainless steel appliances, arched doorways, and more. Relax and unwind on the covered back patio that is laid with Italian tile and wraps around the full length of the back of the home. This home is perfect for entertaining with an open functional floor plan. Designated office space near the front entry allows for great work from home or school options. Additional space for the 4th bedroom, living area, media, or game room space upstairs for all your hobby or bedroom needs that includes a closet. 4 AMAZING Oak trees lend massive canopies and shade.

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: 78628

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Zip Code: 78628

ZipNIR 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
Dell Pickett Elementary School Primary Regular 337 28 5
James Tippit Middle School Middle Regular 840 54 3
East View High School High Regular 1,418 110 4

Dell Pickett Elementary School

  • Education Level: Primary
  • # of students: 337
  • # of teachers: 28
5
GreatSchools Rating

James Tippit Middle School

  • Education Level: Middle
  • # of students: 840
  • # of teachers: 54
3
GreatSchools Rating

East View High School

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

$337,410$412,390$374,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,383
Property Tax -$735
Property Insurance -$163
HOA -$50
Property Management Fees -$181
CASH FLOW
-$252

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.

$374,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,268

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,099
1$2,0992$2,1003$2,2604$2,350
$2,350
RENT COMPS ANALYSIS
  • 612 Scenic Bluff Drive Georgetown, TX 3
    • 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.94
    •  
  • 628 Saturnia Dr Georgetown, TX 1
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2020
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.91
    •  
  • 121 El Ranchero Road Georgetown, TX 2
    • 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,122 Sqft ∙ Built 2020
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 157 Crescent Heights Dr Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 2018
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ashley Brinkoeter
1.512.966.4720
Keller Williams Realty-gt
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 5963209
Last Updated: 10/27/2020
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