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8 Troon Drive Lakeway, TX 78738

3 Beds 2 Baths 1,691 sqft Built 1999

$365,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $215.85
  • 5 Days on Market
  • MLS # : 3018475
  • Updated Date : 10/30/2020 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,691 sqft
  • Baths : 2 full
Listing Agent

Realty Austin

Listing Agent's Description

Lakeway beauty shaded by mature trees with enchanting park-like backyard! This lovely home boasts gorgeous rich hardwoods throughout the spacious living room + all bedrooms, high ceilings and a great open floorplan that is filled with tons of natural light courtesy of walls of beautiful arched windows. Impressive formal dining room with upgraded contemporary chandelier, plantation shutters, crown molding & chair rail detail, is perfect for your Holiday dinners. The bright & open kitchen has vaulted ceilings and a skylight that bathes the breakfast area in light, HUGE walk-in pantry(unique to this rare St. Andrews floorplan), expansive counter space, and breakfast bar that overlooks the living with a cozy fireplace. The sizable primary suite is calling your name with room for a reading nook, wood floors, high ceilings and en suite bath with double vanities, soaking tub, and separate shower + large WIC. Generous secondary bedrooms, one with built-in bookcases and cabinetry, ideal for a home office. Just outside is your private park-like yard with covered patio & large entertaining deck canopied by gorgeous mature trees. All nestled on a picturesque quiet street in highly desirable St. Andrews. Low HOA with lawn maintenance included. Nearby to multiple golf courses, World of Tennis, waterfront park, Lakeway marina, Airpark & shopping!

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
Lakeway Elementary School Primary Regular 701 42 9
Hudson Bend Middle School Middle Regular 1,029 65 9
Lake Travis High School High Regular 2,561 141 8

Lakeway Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 42
9
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
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,347
Property Tax -$671
Property Insurance -$122
HOA -$91
Property Management Fees -$175
CASH FLOW
-$216

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.

$365,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.60%

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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1903$2,3004$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 8 Troon Drive Lakeway, TX 2
    • 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,691 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.30
    •  
  • 2201 Lakeway Boulevard #5 Lakeway, TX 1
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1983
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.27
    •  
  • 444 Seawind Street Lakeway, TX 3
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1979
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.22
    •  
  • 152 World Of Tennis Square Lakeway, TX 4
    • 3 beds 3 baths ∙ 1,682 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,682 Sqft ∙ Built 1971
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 21 Stillmeadow Dr Austin, TX 5
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1983
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.35
    •  
PROPERTY LISTING DETAILS
Lauren Bach
1.512.450.2807
Realty Austin
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 3018475
Last Updated: 10/30/2020
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