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708 Sunfish Street Lakeway, TX 78734

3 Beds 4 Baths 2,935 sqft Built 2004

$549,900

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $187.36
  • 2 Days on Market
  • MLS # : 8382922
  • Updated Date : 12/26/2020 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,935 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Marye Company

Listing Agent's Description

Lakeway living at its best! Beautiful, spacious custom home with lots of natural light complimenting the open floorplan with cathedral ceilings, bright hickory hardwoods and a floor-to-ceiling rock fire place. Alderwood cabinets, stainless steel and granite counters complete the kitchen, which is located between the dining areas. Secondary bed rooms are downstairs and each have their own private bath. Covered decks on both levels are inviting spaces for relaxing outside. Lake access at marina (1 mile+/-

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: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k540k

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

Neighborhood: Lakeway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9972987

* 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
Serene Hills Elementary School Primary Regular 762 46 10
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Serene Hills Elementary School

  • Education Level: Primary
  • # of students: 762
  • # of teachers: 46
10
GreatSchools Rating

Hudson Bend Middle School

  • Education Level: Middle
  • # of students: 1,029
  • # of teachers: 65
9
GreatSchools Rating

Lake Travis High School

  • Education Level: High
  • # of students: 2,561
  • # of teachers: 141
8
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$2,029
Property Tax -$1,078
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$258

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.

$549,900

PROJECTED PRICE

$3,140

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 4.9%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $3,126

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,9503$3,0504$3,1405$3,150
$3,150
RENT COMPS ANALYSIS
  • 708 Sunfish Street Lakeway, TX 4
    • 3 beds 4 baths ∙ 2,935 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,935 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $1.07
    •  
  • 210 Finn Street Lakeway, TX 1
    • 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 1992
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.02
    •  
  • 114 Comet Lakeway, TX 2
    • 3 beds 4 baths ∙ 2,759 Sqft ∙ Built 1968 3 beds 4 baths ∙ 2,759 Sqft ∙ Built 1968
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.07
    •  
  • 708 Sunfish St Lakeway, TX 3
    • 3 beds 4 baths ∙ 2,935 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,935 Sqft ∙ Built 2004
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.04
    •  
  • 709 Sunfish Street Lakeway, TX 5
    • 3 beds 3 baths ∙ 2,790 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,790 Sqft ∙ Built 1975
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.13
    •  
PROPERTY LISTING DETAILS
Harald Hofmann
1.512.731.6388
The Marye Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8382922
Last Updated: 12/26/2020
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