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86 Churchill Farms Drive Georgetown, TX 78626

3 Beds 2 Baths 1,654 sqft Built 2015

$255,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $154.17
  • 3 Days on Market
  • MLS # : 2483075
  • Updated Date : 11/07/2020 at 19:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full
Listing Agent

Magnolia Realty

Listing Agent's Description

A cozy front porch welcomes visitors as wood floors add elegance and continue into the main living area with plenty of room to keep everyone in the action. Soothing neutral colors and upgraded two-panel doors flow through the home, with luxury vinyl in the primary and flex bedrooms. The large eat-in kitchen with wainscot walls overlooks the patio and private backyard. Features include granite counters, espresso cabinets, stainless steel appliances including refrigerator, and a handy breakfast bar overlooking the living room. The sizeable primary suite consists of a walk-in closet, oversized shower with bench, and double vanity. The third bedroom works perfectly as a home office or flex space. The nearby laundry room includes a front-loading washer and dryer, with room for additional storage. The covered patio has plenty of room for entertaining and features a gas plumb out for your grilling needs. The water softener keeps appliances and pipes clean and clear. Located close to everything downtown Georgetown, minutes from the square, and Toll 130 access for quick and easy transportation to all Central Texas offers. Welcome home!

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: 78626

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $120k315k

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

Zip Code: 78626

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441816

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$941
Property Tax -$500
Property Insurance -$120
HOA -$46
Property Management Fees -$134
CASH FLOW
-$71

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.

$255,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.72%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6004$1,6255$1,670
$1,670
RENT COMPS ANALYSIS
  • 86 Churchill Farms Drive Georgetown, TX 5
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.01
    •  
  • 1508 Ascot Street Georgetown, TX 1
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2015
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 520 Staton Street Georgetown, TX 2
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2018
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.06
    •  
  • 1487 Newbury St Georgetown, TX 3
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 2003
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 45 Churchill Farms Drive Georgetown, TX 4
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2016
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.08
    •  
PROPERTY LISTING DETAILS
Sonia Guardado
1.512.507.2935
Magnolia Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2483075
Last Updated: 11/07/2020
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