Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

723 Independence Creek Lane Georgetown, TX 78633

3 Beds 2 Baths 1,530 sqft Built 2009

$279,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $182.94
  • 5 Days on Market
  • MLS # : 8969957
  • Updated Date : 11/13/2020 at 17:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,530 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Tx Realty

Listing Agent's Description

Cozy and well-kept home right in the heart of Sun City. *NO CARPET* **New Gutters Installed 10/2020**Wood and tile floors throughout as well as high ceilings, crown molding, shutters and two skylights that all work together to create an open and bright atmosphere. Built-ins are located in the Great Room as well as a flexible secondary bedroom that may be used as an office/study. Low maintenance landscaping with an in ground sprinkler system makes maintaining the yard and curb appeal a breeze. Backyard space gives plenty of room to plant all of your favorite flowers and includes a screened in porch where you may enjoy the view with that morning cup of coffee. Washer/Dryer convey.

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: Sun City

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Sun City

NeighborhoodNIR 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
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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,033
Property Tax -$553
Property Insurance -$113
HOA -$100
Property Management Fees -$135
CASH FLOW
-$244

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.

$279,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6503$1,690
$1,690
RENT COMPS ANALYSIS
  • 723 Independence Creek Lane Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.10
    •  
  • 117 Cleburne Pass Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2012
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.08
    •  
  • 213 Kickapoo Creek Ln Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2013
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
PROPERTY LISTING DETAILS
Candice Phelps
1.512.636.3795
Berkshire Hathaway Tx Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 8969957
Last Updated: 11/13/2020
BESbswy