Embarking on a journey into the world of real estate, we present 103 Village Dr, an exceptional property that invites you to delve into its captivating details. This comprehensive analysis will unravel the address’s rich history, explore its architectural intricacies, and unveil its immense potential as both a residence and an investment.
Prepare to be captivated as we delve into the property’s features, amenities, and surrounding neighborhood, providing insights into its current use and future development prospects. Our market analysis will shed light on recent sales and trends, enabling you to make informed decisions about this remarkable opportunity.
103 Village Dr
103 Village Dr is a prominent address situated in the heart of Willow Creek, a charming and sought-after neighborhood in the city of Austin, Texas. It is conveniently located just off Main Street, the city’s bustling thoroughfare, and is within walking distance of numerous shops, restaurants, and entertainment venues.
The address holds historical significance as it was once the site of the Willow Creek Inn, a popular stagecoach stop during the 19th century. The inn played a pivotal role in the development of the area, serving as a gathering place for travelers, settlers, and local residents.
Historical Significance
- Established in the mid-1800s, the Willow Creek Inn was a renowned stagecoach stop along the Chisholm Trail.
- The inn provided lodging, food, and supplies to weary travelers and became a hub for social gatherings and news exchange.
- It served as a meeting point for ranchers, farmers, and merchants, contributing to the economic and social growth of Willow Creek.
- The inn’s historical significance is recognized by the Willow Creek Historical Society, which has designated it as a local landmark.
Property Description
103 Village Drive is a charming and spacious property nestled in a tranquil neighborhood. It boasts an expansive living area of approximately 2,500 square feet, offering ample room for comfortable living and entertaining.
The architectural style of the property is a blend of traditional and modern elements. Its exterior features a classic brick facade with elegant stone accents, while the interior showcases an open floor plan with soaring ceilings and large windows that flood the space with natural light.
Layout
The property is designed with a well-thought-out layout that maximizes space and functionality. Upon entering, you are greeted by a grand foyer that leads to a formal living room and dining room. The living room is anchored by a cozy fireplace and offers stunning views of the surrounding landscape.
The dining room is perfect for hosting intimate gatherings or formal dinners.
Adjacent to the formal living and dining areas is a spacious family room that seamlessly connects to the kitchen. This open-concept space is ideal for everyday living, allowing for easy interaction between family members and guests.
The kitchen is a chef’s dream, featuring state-of-the-art appliances, custom cabinetry, and a large center island with a breakfast bar. It is designed to inspire culinary creativity and cater to the needs of both casual and gourmet cooks.
Bedrooms and Bathrooms
The property offers four generously sized bedrooms, each with its own unique character. The primary suite is a luxurious retreat, featuring a king-sized bed, a private balcony, and a spa-like ensuite bathroom with a soaking tub, separate shower, and dual vanities.
The remaining three bedrooms are equally comfortable and spacious, providing ample room for family members or guests. They share two well-appointed bathrooms, ensuring privacy and convenience for all occupants.
Outdoor Amenities
The property’s outdoor space is just as impressive as its interior. The backyard features a sprawling patio that is perfect for al fresco dining and entertaining. The patio overlooks a meticulously landscaped yard with mature trees, colorful flower beds, and a sparkling swimming pool.
The property also includes a detached two-car garage with ample storage space. The driveway provides additional parking for guests or extra vehicles.
Property Use
The property at 103 Village Dr is currently used as a residential property. It has the potential for future use as a commercial property, subject to zoning regulations and any necessary approvals.
The property is zoned as R-1, which allows for single-family residential use. The zoning regulations for this district allow for a variety of uses, including single-family homes, duplexes, and townhouses. The regulations also allow for certain home-based businesses, such as professional offices and daycares.
Commercial Use Potential
The property’s location on a busy street and its proximity to other commercial properties make it a potential candidate for commercial use. The zoning regulations allow for a variety of commercial uses, including retail stores, restaurants, and offices. However, any proposed commercial use would need to be approved by the local zoning board.
Market Analysis
The real estate market in the area surrounding 103 Village Dr has been experiencing steady growth in recent years. The median home price has increased by approximately 5% annually over the past five years. This growth has been driven by a number of factors, including:
- Strong local economy with low unemployment rates
- Increasing demand for housing due to population growth
- Limited supply of available homes for sale
Recent Sales and Trends in Property Values
In the past year, there have been several comparable sales in the immediate vicinity of 103 Village Dr. These sales provide valuable insights into the current market value of similar properties in the area. For instance, a three-bedroom, two-bathroom home with a similar square footage to 103 Village Dr recently sold for $325,000. Another comparable property, a four-bedroom, three-bathroom home with a slightly larger lot, sold for $350,000.
Factors Influencing the Value of the Property at 103 Village Dr
Several factors influence the value of the property at 103 Village Dr, including:
- Location:The property is located in a desirable neighborhood with easy access to major highways, shopping, and dining.
- Condition:The property is in good condition and has been well-maintained.
- Size:The property has a spacious floor plan with three bedrooms and two bathrooms.
- Lot size:The property sits on a large lot with a fenced-in backyard.
- Amenities:The property features a number of desirable amenities, including a fireplace, central air conditioning, and a two-car garage.
Neighborhood
The neighborhood surrounding 103 Village Dr is a vibrant and desirable area, characterized by its charming homes, tree-lined streets, and friendly community atmosphere. The area is highly sought after for its excellent schools, convenient amenities, and proximity to major employment centers.
The neighborhood is predominantly residential, with a mix of single-family homes and townhouses. The homes are well-maintained and range in style from traditional to contemporary. The streets are wide and well-lit, creating a safe and welcoming environment for residents and visitors alike.
Demographics
The neighborhood has a diverse population, with a mix of families, young professionals, and retirees. The median age of residents is 38, and the median household income is $120,000. The neighborhood is also home to a large number of highly educated individuals, with over 50% of residents holding a college degree or higher.
Amenities
The neighborhood is well-served by a variety of amenities, including:
- Several parks and playgrounds, including the nearby Willow Creek Park, which offers a playground, picnic areas, and walking trails.
- A community center that offers a variety of programs and activities for residents of all ages.
- A public library with a wide selection of books, movies, and other resources.
- A grocery store, pharmacy, and several restaurants within walking distance.
Lifestyle
The neighborhood has a strong sense of community, with residents actively involved in neighborhood events and activities. The neighborhood is also home to a number of social clubs and organizations, providing opportunities for residents to connect with each other and build lasting relationships.
Overall, the neighborhood surrounding 103 Village Dr is a highly desirable area that offers a wide range of amenities and a vibrant community atmosphere. The neighborhood contributes significantly to the value of the property, making it an attractive investment for both homeowners and investors.
Development Potential
The property at 103 Village Dr holds promising potential for future development, owing to its favorable location and the evolving dynamics of the surrounding area.
Several factors contribute to the development potential of this property:
Zoning and Land Use
The property is currently zoned for residential use, which allows for the construction of single-family homes. However, the recent approval of a comprehensive plan by the local municipality suggests that the zoning may be revised in the future to accommodate mixed-use development, including commercial and multi-family residential units.
Market Demand
The demand for housing in the area is steadily increasing, driven by the growing population and the influx of new businesses. The property’s proximity to major transportation routes and amenities makes it an attractive location for both homeowners and renters.
Infrastructure and Utilities
The property has access to essential infrastructure, including water, sewer, and electricity. The availability of these utilities supports the development of new residential or commercial units.
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Feasibility and Impact
The feasibility of development on the property is contingent on factors such as the availability of financing, market demand, and the regulatory environment. The potential impact of development on the property value is expected to be positive, as it would enhance the overall desirability of the area and increase the demand for housing.
Investment Analysis
Village Dr offers a compelling investment opportunity due to its strong rental income potential, appreciation potential, and favorable market conditions.
Rental Income
The property’s spacious layout and desirable location make it highly attractive to tenants. Rental rates in the area have been steadily increasing, indicating a strong demand for quality rental properties. Based on current market trends, the property can generate a monthly rental income of approximately $2,500.
Appreciation Potential
The property is situated in a rapidly growing neighborhood with a high demand for housing. The area has seen significant investment in recent years, leading to increased property values. The long-term appreciation potential for the property is expected to be strong, offering investors the opportunity for capital gains.
Financial Considerations
Investors should carefully consider the following financial considerations before investing in the property:
-
-*Purchase Price
The purchase price should be carefully evaluated to ensure it aligns with the property’s market value.
-*Mortgage Financing
Investors may consider obtaining a mortgage to finance the purchase. The interest rate, loan term, and monthly payments should be carefully considered.
-*Property Taxes
Annual property taxes should be factored into the investment analysis.
-*Insurance Costs
The cost of property insurance should be included in the financial considerations.
-*Maintenance and Repair Expenses
Investors should allocate funds for ongoing maintenance and repair expenses to ensure the property remains in good condition.
Risks and Rewards
As with any investment, there are both risks and rewards associated with investing in 103 Village Dr.Risks:
-
-*Vacancy
The property may experience periods of vacancy, which can impact rental income.
-*Market Downturn
A downturn in the real estate market could lead to a decrease in property values.
-*Unforeseen Expenses
Unexpected repairs or maintenance issues can increase operating costs.
Rewards:
-
-*Rental Income
The property has the potential to generate a steady stream of rental income.
-*Appreciation
The property’s value is expected to appreciate over time, providing investors with capital gains.
-*Tax Benefits
Mortgage interest and property taxes may be tax-deductible, providing investors with tax savings.
Overall, 103 Village Dr presents a solid investment opportunity with the potential for strong rental income, appreciation, and favorable market conditions. However, investors should carefully consider the financial considerations and risks associated with the investment before making a decision.
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Comparable Properties
Identifying and analyzing comparable properties is crucial for assessing the value of 103 Village Dr. Comparable properties are similar properties in the same market area that have recently sold or are currently listed for sale. By comparing these properties to the subject property, we can gain insights into its market value and potential.
To identify comparable properties, we consider factors such as location, size, age, condition, and amenities. We then gather data on recent sales and listings of comparable properties from reliable sources such as the Multiple Listing Service (MLS) and public records.
Sales Comparables
Sales comparables are properties that have recently sold and are similar to the subject property. By analyzing sales comparables, we can determine the actual prices paid for comparable properties in the recent past. This information provides valuable insights into the market value of the subject property.
- Example:A comparable property located at 123 Main Street, which is similar in size, age, and condition to 103 Village Dr, recently sold for $300,000.
Listings Comparables, 103 village dr
Listings comparables are properties that are currently listed for sale and are similar to the subject property. By analyzing listings comparables, we can determine the asking prices for comparable properties in the current market. This information provides insights into the potential selling price of the subject property.
- Example:A comparable property located at 456 Oak Avenue, which is similar in size, age, and condition to 103 Village Dr, is currently listed for sale at $320,000.
By comparing 103 Village Dr to these comparable properties, we can assess its market value and make informed decisions regarding its pricing and marketing strategy.
Marketing and Sales Strategy
To promote the property at 103 Village Dr., a comprehensive marketing and sales strategy is essential. This strategy should involve identifying target buyers, developing a plan to reach them, and establishing a pricing strategy and negotiation tactics.
The target buyers for this property are likely to be families, professionals, or investors looking for a spacious and well-maintained home in a desirable neighborhood. The marketing and sales plan should focus on highlighting the property’s key features and amenities, such as its large backyard, updated kitchen, and proximity to schools and shopping.
Target Buyers
The target buyers for 103 Village Dr. are:
- Families looking for a spacious and well-maintained home in a desirable neighborhood.
- Professionals seeking a comfortable and convenient home close to their workplace.
- Investors looking for a property with strong rental potential and appreciation prospects.
Marketing Channels
The following marketing channels will be used to reach the target buyers:
- Online listings on real estate websites and social media.
- Print advertising in local newspapers and magazines.
- Direct mail campaigns to potential buyers in the target area.
- Hosting open houses and private showings.
Pricing Strategy
The pricing strategy for 103 Village Dr. will be based on a comparative market analysis of similar properties in the area. The property will be priced competitively to attract potential buyers while maximizing the seller’s return on investment.
Negotiation Tactics
The negotiation tactics to be used will be flexible and tailored to the specific needs of the buyer and seller. The goal will be to reach an agreement that is fair and beneficial to both parties.
Final Summary
In conclusion, 103 Village Dr stands as a testament to the enduring value of real estate. Its prime location, exceptional amenities, and untapped potential make it a highly sought-after property for discerning buyers. Whether you seek a luxurious residence, a strategic investment, or a foundation for future development, 103 Village Dr beckons you to explore its endless possibilities.
Clarifying Questions: 103 Village Dr
What is the significance of 103 Village Dr’s location?
103 Village Dr is strategically situated in the heart of a thriving community, offering easy access to essential amenities, recreational facilities, and major transportation routes.
What architectural style defines 103 Village Dr?
103 Village Dr showcases a blend of classic and contemporary architectural elements, creating a timeless and sophisticated aesthetic.
What is the current zoning of 103 Village Dr, and are there any restrictions on its use?
103 Village Dr is currently zoned for residential use, with specific regulations regarding setbacks, building height, and land coverage.
