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123 Zephyr Bend Pl Place The Woodlands, TX 77381

3 Beds 3 Baths 2,554 sqft Built 2002

$350,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $137.04
  • 3 Days on Market
  • MLS # : 67010334
  • Updated Date : 11/01/2020 at 09:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,554 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

LOCATION IS EVERYTHING! 25 MINUTES TO IAH AIRPORT! Biking distance to the many amazing entertainment amenities that The Woodlands offers: Market Street, Woodlands Mall, The Cynthia Woods Mitchell Pavilion, Waterway and Hughes Landing. 5 minutes to I45! This perfectly maintained 3-4 bedroom home has been meticulously kept, only two owners! Roof replaced 2015, fresh exterior paint 2016, water heater replaced 2018, interior completely repainted August 2019 to accentuate natural light and easy flowing floor plan. Flex bedroom/study located downstairs. Premium cul-de-sac lot with a huge, private back yard and custom screened-in porch. Brand new refrigerator included, washer/dryer also included.

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: Grogan's Forest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k466k

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

Neighborhood: Grogan's Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10722977

* 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
Lamar Elementary School Primary Regular 713 41 7
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Lamar Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
7
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,291
Property Tax -$673
Property Insurance -$175
Property Management Fees -$99
CASH FLOW
$72

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.

$350,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) -1.6%
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-$5.0k$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,905

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,311

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,3004$2,3105$2,600
$2,600
RENT COMPS ANALYSIS
  • 123 Zephyr Bend Pl Place The Woodlands, TX 4
    • 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.90
    •  
  • 19 Julienne Trace The Woodlands, TX 1
    • 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2004
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.88
    •  
  • 23 Julienne Trace The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,529 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,529 Sqft ∙ Built 2003
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 123 Zephyr Bend Place The Woodlands, TX 3
    • 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 18 E Tapestry Park Circle The Woodlands, TX 5
    • 3 beds 3 baths ∙ 2,693 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,693 Sqft ∙ Built 2005
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alison Cravey
1.281.408.9660
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 #: 67010334
Last Updated: 11/01/2020
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