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73 Ridgewood Cir Wimberley, TX 78676

3 Beds 2 Baths 1,842 sqft Built 2014

INVESTimate

$329,000

List Price

$1,760

$1,584 - $1,936

Rent Est.

$352,655  ( +7.19%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $178.61
  • 8 Days on Market
  • MLS # : 7778250
  • Updated Date : 08/25/2020 at 16:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,842 sqft
  • Baths : 2 full
Listing Agent

Century 21 Randall Morris

Listing Agent's Description

One of Somerset Homes most popular floor-plans, this one owner, 5 year old home, is extremely well taken care of and the location is great! Amazing custom stone fireplace and patio in the big shaded backyard offers many days and evenings of outdoor family pleasure!

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MARKET HIGHLIGHTS

  • 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)
  • #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.

PRICE & RENT TRENDS

Zip Code: 78676

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k410k

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

Zip Code: 78676

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8272157

* 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
Jacob's Well Elementary School Primary Regular 629 41 6
Danforth Junior High School Middle Regular 479 35 8
Wimberley High School High Regular 695 51 7

Jacob's Well Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 41
6
GreatSchools Rating

Danforth Junior High School

  • Education Level: Middle
  • # of students: 479
  • # of teachers: 35
8
GreatSchools Rating

Wimberley High School

  • Education Level: High
  • # of students: 695
  • # of teachers: 51
7
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,214
Property Tax -$520
Property Insurance -$131
HOA -$10
Property Management Fees -$141
CASH FLOW
-$256

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.

$329,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 7.19%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,8003$1,8504$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 73 Ridgewood Cir Wimberley, 1
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.96
    •  
  • 2 Dogwood Dr Wimberley, 2
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2002
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 15 Springwood Cir Wimberley, 3
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 2005
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 49 Whistling Wind Ln Wimberley, 4
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2002
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
  • 52 Ridgewood Cir Wimberley, 5
    • 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,996 Sqft ∙ Built 2013
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.05
    •  
PROPERTY LISTING DETAILS
Wade Dahl
1.512.801.4812
Century 21 Randall Morris
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7778250
Last Updated: 08/25/2020
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