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712 Olive Creek Drive Georgetown, TX 78633

4 Beds 4 Baths 2,277 sqft Built 2020

$342,120

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $150.25
  • 5 Days on Market
  • MLS # : 4195430
  • Updated Date : 12/23/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,277 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century Communities - Crotx

Listing Agent's Description

The Henderson is a floor plan you can truly make your own. As you step into the foyer, you're greeted by a private study with built in French doors. You can also enter from the two-bay garage for quick access to your new command center: a spacious kitchen with a center island and abundant counter space. The kitchen features 42" white painted cabinets, subway tile backsplash and quartz countertops, and The overlooks a sunlit dining area and great room, with access to a relaxing covered patio. You'll also appreciate a convenient main floor laundry room, powder bath and an impressive primary suite–with dual walk-in closets, a private bath with double sinks and a walk-in shower. Upstairs, a game room offers numerous possibilities, and three secondary bedrooms. Other upgrades in this home include the additional bedroom 4 with private full bath 3 layout, recessed lighting in the kitchen, extended gray wood-look tile through first floor common areas, 2" white faux wood blinds throughout, and a 2-panel square Knotty Alder wood front door. You're going to love this Henderson plan and all it has to offer!

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: 78633

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $126k335k

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

Zip Code: 78633

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371902

* 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
Jo Ann Ford Elementary School Primary Regular 552 32 8
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Jo Ann Ford Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 32
8
GreatSchools Rating

Douglas Benold Middle School

  • Education Level: Middle
  • # of students: 825
  • # of teachers: 53
5
GreatSchools Rating

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$307,908$376,332$342,120

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,262
Property Tax -$657
Property Insurance -$155
HOA -$50
Property Management Fees -$99
CASH FLOW
-$183

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$342,120

PROJECTED PRICE

$2,040

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,662

INVESTMENT

$92,662

Down Payment
$85,530
Rehab Estimate
$2,000
Closing Costs
$5,132

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,262

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,530
Loan Amount $256,590
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9253$1,9504$1,9755$2,040
$2,040
RENT COMPS ANALYSIS
  • 712 Olive Creek Drive Georgetown, TX 5
    • 4 beds 4 baths ∙ 2,277 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,277 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.90
    •  
  • 213 Village Park Drive Georgetown, TX 1
    • 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 208 Allen Georgetown, TX 2
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 1998
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.86
    •  
  • 4929 Woodstock Dr Georgetown, TX 3
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2005
    property image
    LEASED 06/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 308 Leanne Drive Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2006
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.80
    •  
PROPERTY LISTING DETAILS
G. Michael Peccon
1.512.271.3831
Century Communities - Crotx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 4195430
Last Updated: 12/23/2020
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