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960 Naranjo Drive Georgetown, TX 78628

4 Beds 3 Baths 2,491 sqft Built 2018

$359,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $144.48
  • 4 Days on Market
  • MLS # : 7313143
  • Updated Date : 11/15/2020 at 04:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,491 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-gt

Listing Agent's Description

Tour this well maintained single story home built in 2018 ready for your personal touch. This home boasts a functional open floor plan, wood floors through main living areas, arched doorways, plantation shutters, and more. Designated office separate from the 4 bedrooms for your work or school from home needs or have the hobby room of your dreams. Lots of natural light through the picture windows. The master suite lends a spacious bedroom with room for a sitting area and a beautiful bathroom with a soaking tub and walk-in shower. Spacious backyard that backs to HOA owned land so no neighbors behind you!

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

Neighborhood: Georgetown Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $136k410k

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

Neighborhood: Georgetown Village

NeighborhoodNIR 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
Raye Mccoy Elementary School Primary Regular 558 38 6
Charles A. Forbes Middle School Middle Regular 735 46 3
Georgetown High School High Regular 1,822 121 5

Raye Mccoy Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 38
6
GreatSchools Rating

Charles A. Forbes Middle School

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

Georgetown High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 121
5
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,328
Property Tax -$706
Property Insurance -$167
HOA -$8
Property Management Fees -$174
CASH FLOW
-$204

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.

$359,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.79%
Appreciation Year (1-5) 3.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,975

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,024

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9954$2,1805$2,200
$2,200
RENT COMPS ANALYSIS
  • 960 Naranjo Drive Georgetown, TX 4
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.88
    •  
  • 903 Elmwood Drive Georgetown, TX 1
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 504 Tascate Street Georgetown, TX 2
    • 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 2011
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
  • 703 Westbury Ln Georgetown, TX 3
    • 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,310 Sqft ∙ Built 2009
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 917 Naranjo Dr Georgetown, TX 5
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2018
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ashley Brinkoeter
1.512.966.4720
Keller Williams Realty-gt
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 7313143
Last Updated: 11/15/2020
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