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809 Dove Meadow Cv Georgetown, TX 78626

4 Beds 2 Baths 1,925 sqft Built 2004

INVESTimate

$244,500

List Price

$1,550

$1,395 - $1,705

Rent Est.

$255,600  ( +4.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $127.01
  • 8 Days on Market
  • MLS # : 7480679
  • Updated Date : 08/19/2020 at 08:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,925 sqft
  • Baths : 2 full
Listing Agent

Central Metro Realty

Listing Agent's Description

Beautiful Very well maintained open space 4 bedroom house, with huge living room, extra large master bedroom with walking closet and double vanity. Located in Cul-De-Sac. located minutes from I-30 and I-35. Recent 16"Ceramic tiles in living room, kitchen, bathrooms. All NEW Carpets in bedrooms. All New interior paint and partial exterior paint. ROOF IS ONLY 7 Months OLD, HVAC is less than 3 years and Water Heater is 2 years old. ONLY 2.29 TAX RATE

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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

Neighborhood: Meadows of Georgetown

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k315k

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

Neighborhood: Meadows of Georgetown

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8491816

* 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
James E. Mitchell Elementary School Primary Regular 739 47 2
Charles A. Forbes Middle School Middle Regular 735 46 3
East View High School High Regular 1,418 110 4

James E. Mitchell Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 47
2
GreatSchools Rating

Charles A. Forbes Middle School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 46
3
GreatSchools Rating

East View High School

  • Education Level: High
  • # of students: 1,418
  • # of teachers: 110
4
GreatSchools Rating
 

$220,050$268,950$244,500

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$902
Property Tax -$479
Property Insurance -$135
HOA -$12
Property Management Fees -$124
CASH FLOW
-$102

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.

$244,500

PROJECTED PRICE

$1,550

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,543

INVESTMENT

$70,543

Down Payment
$61,125
Rehab Estimate
$5,750
Closing Costs
$3,668

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$902

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,125
Loan Amount $183,375
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,636

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6004$1,6755$1,725
$1,725
RENT COMPS ANALYSIS
  • 809 Dove Meadow Cv Georgetown, 2
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 910 Indian Meadow Dr Georgetown, 1
    • 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,925 Sqft ∙ Built 2007
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 915 Churchill Farms Dr Georgetown, 3
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2006
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 1005 Bluff Meadow Cv Georgetown, 4
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2005
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
  • 1612 Cliffbrake Way Georgetown, 5
    • 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 2019
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
PROPERTY LISTING DETAILS
Michael Sedigh
1.512.864.5999
Central Metro Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7480679
Last Updated: 08/19/2020
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