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806 Judy Drive A & B Georgetown, TX 78628

4 Beds 2 Baths 1,789 sqft Built 1980 2 Units

$299,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
2 Units MULTIFAMILY
February 12, 2021 RECENTLY ADDED
FACTS
  • 2-Flat Type Property
  • Built In 1980
  • Price/Sqft : $167.13
  • 3 Days on Market
  • MLS # : No MLS Number
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,789 sqft
  • Baths : 2 full
Listing Agent

Tobin

Listing Agent's Description

Great duplex on a corner lot in highly desirable Georgetown. Large front and back yards; house set back from the street on a quarter acre lot. Single story, 2 bedrooms, 1 bath on each side with spacious single car garage attached. New A/C in unit A and whole attic insulation in 2020. Great longterm investment, no HOA. Both sides rented; Unit A tenant will be moving out by March 8. Owner/agent.

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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: Middle Gabriel Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $136k537k

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

Neighborhood: Middle Gabriel Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9972569

* 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
Bill Burden Elementary School Primary Regular 674 47 7
Liberty Hill Junior High School Middle Regular 501 34 8
Liberty Hill High School High Regular 1,015 63 6

Bill Burden Elementary School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 47
7
GreatSchools Rating

Liberty Hill Junior High School

  • Education Level: Middle
  • # of students: 501
  • # of teachers: 34
8
GreatSchools Rating

Liberty Hill High School

  • Education Level: High
  • # of students: 1,015
  • # of teachers: 63
6
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,039
Property Tax -$104
Property Insurance -$61
Property Management Fees -$198
CASH FLOW
$798

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.

$299,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.74%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,735

INVESTMENT

$90,735

Down Payment
$74,750
Rehab Estimate
$11,500
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

16.5

YEARS SAVED

$82,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Mynd
Tobin
BESbswy