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800 E Central Drive Georgetown, TX 78628

3 Beds 2 Baths 1,292 sqft Built 1981

$235,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $181.89
  • 7 Days on Market
  • MLS # : 6260931
  • Updated Date : 02/23/2021 at 01:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,292 sqft
  • Baths : 2 full
Listing Agent

Paula Thomas Real Estate Group

Listing Agent's Description

Location could not be better! Easy commute to everything Georgetown has to offer! Huge backyard with covered back patio, split master from the secondary beds, vaulted ceiling with the warmth of a real fireplace, plenty of natural light throughout, so many things this home has to offer to next owner!

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: 78628

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Zip Code: 78628

ZipNIR 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
Frost Elementary School Primary Regular 431 33 2
Douglas Benold Middle School Middle Regular 825 53 5
Georgetown High School High Regular 1,822 121 5

Frost Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 33
2
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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$816
Property Tax -$461
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
-$136

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.

$235,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,337

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3403$1,4754$1,525
$1,525
RENT COMPS ANALYSIS
  • 800 E Central Drive Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.04
    •  
  • 3118 Northwest Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 3403 Lonesome Trail Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 1984
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.03
    •  
  • 1604 Park Ln Georgetown, TX 4
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1979
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.04
    •  
PROPERTY LISTING DETAILS
Paula Thomas
Paula Thomas Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 6260931
Last Updated: 02/23/2021
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