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649 Ledge Stone Drive Austin, TX 78737

4 Beds 3 Baths 2,907 sqft Built 2008

$450,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $154.80
  • 3 Days on Market
  • MLS # : 3323034
  • Updated Date : 12/19/2020 at 00:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,907 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Gorgeous two-story home in the highly sought after Bush Ranch! The beautiful landscape and mature tree will surely invite you to this property. Walk through the front door into a light-filled open concept living/dining/kitchen space with high ceilings and a fireplace that amps up the coziness feeling of the home. The massive windows in the living space fill the home with rich sunlight throughout the day. The kitchen shows off granite counters, tastefully made wood cabinetry, a kitchen island with pendant lighting, SS appliances, breakfast bar and a pantry! The Master’s suite comes with massive windows for natural lighting, dual vanity, garden tub, separate glass shower, and a large walk-in closet. Walk up the carpeted staircase to an impeccable second-floor layout with a game room perfect for entertaining. Retreat to the lush, spacious private backyard with a beautiful landscape and a covered patio with a relaxing panoramic view of the greenbelt perfect for outdoor living! Great neighborhood and Very convenient location!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 78737

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $136k489k

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

Zip Code: 78737

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9972668

* 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
Dripping Springs Elementary School Primary Regular 921 57 8
Dripping Springs Middle School Middle Regular 1,238 64 8
Dripping Springs High School High Regular 1,586 92 8

Dripping Springs Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
8
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,660
Property Tax -$1,092
Property Insurance -$191
HOA -$50
Property Management Fees -$99
CASH FLOW
-$172

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.

$450,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,943

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,9003$2,9004$2,9005$2,920
$2,920
RENT COMPS ANALYSIS
  • 649 Ledge Stone Drive Austin, TX 5
    • 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.00
    •  
  • 601 Stone View Trl Austin, TX 1
    • 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2012
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.95
    •  
  • 601 Stone View Trail Austin, TX 2
    • 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2012
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.04
    •  
  • 299 Limestone Trail Austin, TX 3
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2007
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.03
    •  
  • 150 Drury Ln Austin, TX 4
    • 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,829 Sqft ∙ Built 2011
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.03
    •  
PROPERTY LISTING DETAILS
Ricky Cain
1.512.794.6643
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3323034
Last Updated: 12/19/2020
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