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119 S Veranda Ridge Drive The Woodlands, TX 77382

3 Beds 2 Baths 2,021 sqft Built 2000

$299,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $148.39
  • 4 Days on Market
  • MLS # : 79730976
  • Updated Date : 02/26/2021 at 16:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,021 sqft
  • Baths : 2 full
Listing Agent

Jla Realty

Listing Agent's Description

Welcome Home to this stunning 3 bedroom, 2 bathroom home in coveted Alden Bridge of The Woodlands...and on the largest lot in the neighborhood! This home not only has 3 bedrooms, a large spacious living room and open kitchen but it also has a private study, formal dining and breakfast areas. Located in a secluded section of the neighborhood, the quiet location and massive backyard give you your own greenspace to relax and there's PLENTY of room to add a pool when you're ready! A new roof was installed in 2015 and a new AC system was installed in 2020! There are no HOA dues as the neighborhood is covered by the Woodlands Townships! The home is nested inside Conroe ISD and highly-rated Woodlands schools. The neighborhood itself has many hiking/biking trails, parks and is ~10 minutes from everything - The Woodlands Mall, Target, HEB, St. Lukes, Texas Children's and dozens of delicious dining options. Bring your family and come check out your new home. Schedule your showing ASAP!

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: 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
Powell Elementary School Primary Regular 807 44 9
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Powell Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 44
9
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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,042
Property Tax -$588
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
$97

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.

$299,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.66%

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$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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

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
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,031

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8953$1,9004$1,9705$2,299
$2,299
RENT COMPS ANALYSIS
  • 119 S Veranda Ridge Drive The Woodlands, TX 4
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.97
    •  
  • 11 Teakwood Place Conroe, TX 1
    • 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
    •  
  • 14 Indian Corn Place The Woodlands, TX 2
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2000
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.98
    •  
  • 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
    •  
  • 142 Russet Grove Circle The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2000
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $1.06
    •  
PROPERTY LISTING DETAILS
Michelle Hill
1.281.642.1783
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 79730976
Last Updated: 02/26/2021
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