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102 Drifting Shadows Court The Woodlands, TX 77385

4 Beds 2 Baths 1,895 sqft Built 2002

$249,900

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $131.87
  • 2 Days on Market
  • MLS # : 95655207
  • Updated Date : 01/02/2021 at 14:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,895 sqft
  • Baths : 2 full
Listing Agent

Re/max Integrity

Listing Agent's Description

You found the perfect single story home on a cul-de-sac! Boasting a large greenbelt lot with great privacy! New AC and Furnace Dec 2018, New roof Nov 2019, and gourmet kitchen was updated with stainless appliances and quartz counters in Sept of 2016. With a large island and plenty of storage the kitchen opens to family room featuring a gas log fireplace. The backyard has room for all your gardening, landscaping, and space to add the pool of your dreams. This premium lot maximizes your living area as well as your privacy. With a flexible floor plan that allows for 4 or 3 bedrooms and a home office. Lovingly maintained by its original owner and zoned to award winning Woodlands schools, it is only minutes to I-45, Med Center, The Mall, Mkt Street, and great dining options. Walk to the neighborhood park and hike and bike trails throughout Harpers Landing. No Flooding! Per sellers’ request there will only be showings Jan 9th and 10th. Please submit all offers by 5 pm Mon, Jan 11th.

SEE MORE

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: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8932063

* 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
Collins Intermediate School Primary Regular 674 36 10
Collins Intermediate School Middle Regular 674 36 10
The Woodlands College Park High School High Regular 2,794 161 9

Collins Intermediate School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

Collins Intermediate School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$922
Property Tax -$524
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$99

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,8003$1,8754$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 102 Drifting Shadows Court The Woodlands, TX 1
    • 4 beds 2 baths ∙ 1,895 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,895 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.94
    •  
  • 111 N Misty Dawn Drive The Woodlands, TX 2
    • 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2001
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 34 S Rambling Ridge Place Conroe, TX 3
    • 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,083 Sqft ∙ Built 2002
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.90
    •  
  • 55 Shimmer Pond Place The Woodlands, TX 4
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2001
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 198 W Misty Dawn Drive The Woodlands, TX 5
    • 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2001
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.98
    •  
PROPERTY LISTING DETAILS
Nathan Reinhardt
1.832.350.9798
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95655207
Last Updated: 01/02/2021
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