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111 S Merryweather Circle The Woodlands, TX 77384

3 Beds 2 Baths 1,983 sqft Built 2001

$309,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $155.82
  • 4 Days on Market
  • MLS # : 20713489
  • Updated Date : 02/04/2021 at 16:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,983 sqft
  • Baths : 2 full
Listing Agent

Direct Real Estate Group

Listing Agent's Description

THIS one is perfect and ready to go! Recent complete kitchen remodel with new cabinetry, soft close drawers, stainless steel appliances, breakfast bar, induction cook top, built in ovens and oversized s/s sink. A recent Austin stone fireplace and built ins in Family Room that opens to the Kitchen. Fresh interior paint. HVAC replaced in 2019. Upgraded lighting throughout. Granite throughout. Complete master bath remodel with glass shower enclosure and tumbled marble accents. Engineered hardwood throughout the home! Nice brick paver patio takes you to the large backyard. This home is located super conveniently to FM 1488, grocery shopping, restaurants and quick access to I-45. Welcome Home! Come see it today!

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 $107k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8932322

* 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
David Elementary School Primary Regular 626 36 9
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

David Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 36
9
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

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

$278,100$339,900$309,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,073
Property Tax -$606
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
$60

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.

$309,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.64%

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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,788

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,978

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,9004$1,9505$1,980
$1,980
RENT COMPS ANALYSIS
  • 111 S Merryweather Circle The Woodlands, TX 5
    • 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.00
    •  
  • 143 E Foxbriar Forest Circle The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2004
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 11 Teakwood Place Conroe, TX 2
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2001
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 30 Hermit Thrush Place The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 2004
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
  • 23 N Merryweather Circle The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2001
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
PROPERTY LISTING DETAILS
Tracie Miller-colette
1.936.718.1060
Direct Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 20713489
Last Updated: 02/04/2021
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