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107 S Veranda Ridge Drive The Woodlands, TX 77382

3 Beds 2 Baths 1,964 sqft Built 2001

$282,500

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $143.84
  • 3 Days on Market
  • MLS # : 88003456
  • Updated Date : 11/27/2020 at 13:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,964 sqft
  • Baths : 2 full
Listing Agent

Branch & Co.

Listing Agent's Description

Come home to this coveted one-story open layout with beautiful landscaping and natural light throughout. Enjoy two back patios with pavers! Wood floors in living, office and master, upgraded tile in entry and living. Charming fireplace, high ceilings, and large utility room. Plantation shutters are in the guest bedrooms and the office! Huge Master Bedroom! Roof replaced 2019 with transferrable warranty! Sought after location just minutes away from shopping and dining.

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: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722322

* 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
Mitchell Intermediate School Primary Regular 1,208 63 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Mitchell Intermediate School

  • Education Level: Primary
  • # of students: 1,208
  • # of teachers: 63
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
 

$254,250$310,750$282,500

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,042
Property Tax -$512
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
$36

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.

$282,500

PROJECTED PRICE

$1,830

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,613

INVESTMENT

$80,613

Down Payment
$70,625
Rehab Estimate
$5,750
Closing Costs
$4,238

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,625
Loan Amount $211,875
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,885

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7503$1,8304$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 107 S Veranda Ridge Drive The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.93
    •  
  • 130 W Russet Grove Circle The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.87
    •  
  • 31 Gold Leaf Place Conroe, TX 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2000
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 30 Hermit Thrush Place The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 2004
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 43 N Veranda Ridge Drive The Woodlands, TX 5
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jake Moore
1.936.235.1414
Branch & Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88003456
Last Updated: 11/27/2020
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