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105 W Rainbow Ridge Circle The Woodlands, TX 77381

4 Beds 3 Baths 2,589 sqft Built 1988

$335,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $129.39
  • 93 Days on Market
  • MLS # : 82073207
  • Updated Date : 01/22/2021 at 18:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,589 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wonderfully maintained 2-story home in the center of The Woodlands! Formal living room greets you to the left of the front entrance. Formal dining located next to the kitchen makes this home perfect for entertaining! The oversized family room is tucked behind the kitchen. All bedrooms are located on second floor. The primary suite is extremely spacious & features a primary bathroom w/ a walk in closet, garden tub, separate shower, & dual sinks. Zoned to sought-after schools in The Woodlands! Walking distance to local parks, tennis courts, stocked fishing ponds, & all the entertainment you could dream of! Shopping, dining, & much more in close proximity to the home ensures you will always have something fun to do with your family & friends! Water heater replaced in 2017. New A/C in 2016. Freshly painted backyard fence in 2020. Updated shower in secondary bathroom in 2020. Tile & carpet throughout the home. 2 French Drains in backyard! Never flooded! Walking distance to great schools!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,164
Property Tax -$666
Property Insurance -$177
Property Management Fees -$99
CASH FLOW
$5

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.

$335,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.63%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,246

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1103$2,2004$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 105 W Rainbow Ridge Circle The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.81
    •  
  • 23 Windfellow Place The Woodlands, TX 1
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1984
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 7 Roundtop Place The Woodlands, TX 3
    • 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 1989
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 9 Mallard Glen Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1983
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 19 Kearny Brook Place The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
PROPERTY LISTING DETAILS
Teresa Sartin
1.281.825.7745
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82073207
Last Updated: 01/22/2021
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