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103 N Winterport Circle Spring, TX 77382

3 Beds 2 Baths 2,017 sqft Built 1996

$293,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $145.27
  • 3 Days on Market
  • MLS # : 89153148
  • Updated Date : 11/02/2020 at 09:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,017 sqft
  • Baths : 2 full
Listing Agent

Artemis Group Inc.

Listing Agent's Description

They say it is all about location, location...This super Ryland open floor plan in the heart of The Woodlands, close to shopping, theaters, abundance of dining & premier education. Once you arrive you will appreciate the care put into landscaping & stunning transom caped wood front door. As you enter you will be amazed by beautiful hickory hardwood flooring throughout, with Travertine floors in bathrooms & laundry room. Just off the entry is study which could be used as a 4th bedroom & formal dining area for family gatherings. The living area is light & bright with windows overlooking backyard & fireplace surrounded by built ins. The kitchen has been remodeled & offers quartz countertops, abundance of cabinets extended to ceiling. Private master suite with huge bath w/tub, walk in shower & double sinks. There are two additional bedrooms with an additional bath. Peaceful backyard w/ wonderful brick patio. Community swimming pool & park within walking distance. Easy access to Hwy 45.

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723320

* 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
Bush Elementary School Primary Regular 698 42 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Bush Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
10
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$263,700$322,300$293,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,081
Property Tax -$562
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$144

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$293,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,395

INVESTMENT

$83,395

Down Payment
$73,250
Rehab Estimate
$5,750
Closing Costs
$4,395

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,081

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,250
Loan Amount $219,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,042

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9503$2,0304$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 103 N Winterport Circle Spring, TX 3
    • 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,017 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.01
    •  
  • 27 Leaf Spring Place The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1996
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 23 Lamps Glow Place Spring, TX 2
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 10 Wind Harp Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1995
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
  • 140 S Winterport Circle Spring, TX 5
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Roy Stevenson
1.713.515.4885
Artemis Group Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 89153148
Last Updated: 11/02/2020
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