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109 Fallshire Drive Spring, TX 77381

3 Beds 2 Baths 1,300 sqft Built 1981

$230,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $176.92
  • 5 Days on Market
  • MLS # : 84984284
  • Updated Date : 01/20/2021 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Listing Spark

Listing Agent's Description

FANTASTIC LOCATION! WALKING DISTANCE TO ELEMENTARY SCHOOL AND TO PANTHER CREEK VILLAGE CENTER, A CREAMPUFF IN THE HEART OF PANTHER CREEK NEXT TO BIKE TRAIL. NEWLY RENOVATED, VAULTED CEILINGS WITH FIREPLACE, STAINLESS STEEL APPLIANCES, INCLUDES WASHER AND DRYER.

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: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k368k

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

Neighborhood: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722236

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$799
Property Tax -$425
Property Insurance -$102
HOA -$28
Property Management Fees -$99
CASH FLOW
$27

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.

$230,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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

PROJECTED ANNUAL CASH FLOW

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$5,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,4954$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 109 Fallshire Drive Spring, TX 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.14
    •  
  • 72 Trummel Court The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,138 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,138 Sqft ∙ Built 1983
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.27
    •  
  • 99 Trummel Court The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,274 Sqft ∙ Built 1982
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.17
    •  
  • 75 Fallshire Drive The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1976
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.24
    •  
  • 27 Cricket Hollow Place The Woodlands, TX 5
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1985
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.24
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
1.512.827.2252
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84984284
Last Updated: 01/20/2021
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