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10110 Spring Shadows Park Circle Houston, TX 77080

3 Beds 4 Baths 2,819 sqft Built 2015

$379,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $134.44
  • 3 Days on Market
  • MLS # : 67802348
  • Updated Date : 01/15/2021 at 08:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,819 sqft
  • Baths : 3 full , 1 half
Listing Agent

Alphamax Realty Inc.

Listing Agent's Description

Come and look for a new and exciting chapter in life in the gated community of Park at Spring Shadows. Close to everything, easy access to I-10 and Beltway 8, minutes to Citycentre! This Beautiful 3/4 Bedrooms, 3.5 bath home features an open concept floor plan that offers a sunlit space ready to fulfill your lifestyle and décor dreams. Living-dining and kitchen on the second floor with wood flooring. Cook up culinary delights in the streamlined kitchen that features a stainless steel appliance package, granite countertops, under cabinet lighting, and Kent Moore cabinets. The master bath features his and her sinks with a vanity area, frameless glass shower, whirlpool jetted garden tub, and an oversized walk-in closet. Plenty of backyard space for outdoor entertainment. One New AC coil (June 2020) with warranties. The refrigerator is negotiable. No flooding during HARVEY. This is a must-see. Room sizes are estimates. Please verify independently.

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MARKET HIGHLIGHTS

  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Spring Shadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $74k305k

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

Neighborhood: Spring Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9102126

* 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
Spring Shadows Elementary School Primary Regular 748 49 3
Spring Woods Middle School Middle Regular 922 68 1
Northbrook High School High Regular 2,260 133 2

Spring Shadows Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 49
3
GreatSchools Rating

Spring Woods Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 68
1
GreatSchools Rating

Northbrook High School

  • Education Level: High
  • # of students: 2,260
  • # of teachers: 133
2
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,316
Property Tax -$799
Property Insurance -$218
HOA -$81
Property Management Fees -$99
CASH FLOW
$96

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$379,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,699

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,6104$2,7505$2,795
$2,795
RENT COMPS ANALYSIS
  • 10110 Spring Shadows Park Circle Houston, TX 3
    • 3 beds 4 baths ∙ 2,819 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,819 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.93
    •  
  • 2404 Hollister Street Houston, TX 1
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2014
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 8815 Lakeshore Bend Drive Houston, TX 2
    • 3 beds 4 baths ∙ 2,759 Sqft ∙ Built 2008 3 beds 4 baths ∙ 2,759 Sqft ∙ Built 2008
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 2710 Shadybrook Meadow Drive Houston, TX 4
    • 3 beds 4 baths ∙ 2,795 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,795 Sqft ∙ Built 2015
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.98
    •  
  • 1450 Springrock Lane Houston, TX 5
    • 3 beds 3 baths ∙ 2,718 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,718 Sqft ∙ Built 1997
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.03
    •  
PROPERTY LISTING DETAILS
Hongyan Liu
1.832.480.0848
Alphamax Realty Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 67802348
Last Updated: 01/15/2021
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