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905 Turtle Creek Cove Georgetown, TX 78633

2 Beds 2 Baths 1,564 sqft Built 2017

$314,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $200.77
  • 2 Days on Market
  • MLS # : 7426627
  • Updated Date : 02/06/2021 at 20:43
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,564 sqft
  • Baths : 2 full
Listing Agent

Stacy Group Llc

Listing Agent's Description

Tenant occupied until March 26. Easy access to 35 & 195 and just 1/2 mile from the newest activity center - The Retreat on Cattleman Drive. Close proximity to community gardens, softball and dog park. Steel Creek model with 2 Beds / 2 Baths and Sunroom option on quiet cul-de-sac. Tile throughout with carpet in bedrooms. Island kitchen features stainless appliances, granite counters, pantry. Walk-in shower, dual vanity and large walk-in closet in owner's suite. Crown molding, tray ceilings. Covered patio to sit & enjoy private backyard. Privacy fence in back with green space beyond. Must have appointment with tenant to show.

SEE MORE

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

Zip Code: 78633

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $126k335k

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

Zip Code: 78633

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9371902

* 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
Jarrell Elementary School Primary Regular 479 33 NA
Jarrell High School High Regular 332 30 5

Jarrell Elementary School

  • Education Level: Primary
  • # of students: 479
  • # of teachers: 33
NA
GreatSchools Rating

Jarrell High School

  • Education Level: High
  • # of students: 332
  • # of teachers: 30
5
GreatSchools Rating
 

$282,600$345,400$314,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,091
Property Tax -$616
Property Insurance -$115
HOA -$102
Property Management Fees -$99
CASH FLOW
-$333

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.

$314,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 4.3%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$88,960

INVESTMENT

$88,960

Down Payment
$78,500
Rehab Estimate
$5,750
Closing Costs
$4,710

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,091

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,500
Loan Amount $235,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,685

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6904$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 905 Turtle Creek Cove Georgetown, TX 3
    • 2 beds 2 baths ∙ 1,564 Sqft ∙ Built 2017 2 beds 2 baths ∙ 1,564 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.08
    •  
  • 410 Sundance Ln Georgetown, TX 1
    • 2 beds 2 baths ∙ 1,429 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,429 Sqft ∙ Built 2003
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
  • 210 Brenham Pass Georgetown, TX 2
    • 2 beds 2 baths ∙ 1,475 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,475 Sqft ∙ Built 2018
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
  • 420 Colorado River Road Georgetown, TX 4
    • 2 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003 2 beds 2 baths ∙ 1,717 Sqft ∙ Built 2003
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
  • 356 Brenham Pass Georgetown, TX 5
    • 2 beds 2 baths ∙ 1,696 Sqft ∙ Built 2018 2 beds 2 baths ∙ 1,696 Sqft ∙ Built 2018
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kelly Bartko
Stacy Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7426627
Last Updated: 02/06/2021
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