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1309 Piney Woods Drive Friendswood, TX 77546

4 Beds 3 Baths 2,245 sqft Built 1981

$303,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $134.97
  • 6 Days on Market
  • MLS # : 65992433
  • Updated Date : 10/31/2020 at 08:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,245 sqft
  • Baths : 3 full
Listing Agent

Point Of View Realty

Listing Agent's Description

Prestigious Location in Friendswood! This Cozy 1 Story, 4 Bedroom, 3 Full Bath, Spacious Lot sitting on +/- 1/4 Acre. Located in desirable Wilderness Trails Subdivision, NO MUD Tax, Low Tax Rate, FISD and NEVER FLOODED. The foyer, large family room w/ fireplace and formal dining have great space for entertaining, adorned w/ framed tile flooring throughout. Primary bedroom (Owner's Retreat) has a walk-in closet and walk-in closet in primary bathroom, free standing shower and jacuzzi tub. Enjoy the bayed window sitting area, overlooking the privately fenced backyard. Don't miss the private entry. Spacious secondary bedrooms w/ ample closet space. Kitchen boasts of granite countertops, tile backsplash and new appliances. All new double paned windows, separate generator electrical panel, Spacious Backyard w/ Gorgeous Patio & Storage Shed. Mature Trees surround this well-maintained home. FHS is within walking distance. Don't Miss This Rare Find! Call KIM to schedule your private showing.

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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: Wilderness Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k337k

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

Neighborhood: Wilderness Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10722425

* 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
Bales Intermediate School Primary Regular 325 23 8
Friendswood Junior High School Middle Regular 1,489 85 9
Friendswood High School High Regular 2,192 130 9

Bales Intermediate School

  • Education Level: Primary
  • # of students: 325
  • # of teachers: 23
8
GreatSchools Rating

Friendswood Junior High School

  • Education Level: Middle
  • # of students: 1,489
  • # of teachers: 85
9
GreatSchools Rating

Friendswood High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 130
9
GreatSchools Rating
 

$272,700$333,300$303,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,118
Property Tax -$641
Property Insurance -$179
HOA -$20
Property Management Fees -$99
CASH FLOW
$143

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.

$303,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,045

INVESTMENT

$86,045

Down Payment
$75,750
Rehab Estimate
$5,750
Closing Costs
$4,545

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,118

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,750
Loan Amount $227,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,324

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,2004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1309 Piney Woods Drive Friendswood, TX 3
    • 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 612 E Castle Harbour Drive Friendswood, TX 1
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 1978
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 809 Lancaster Drive Friendswood, TX 2
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1983
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 1613 White Wing Circle Friendswood, TX 4
    • 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1985
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 1405 Bayou Oak Drive Friendswood, TX 5
    • 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 1982
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.13
    •  
PROPERTY LISTING DETAILS
Kimberly Thorn
1.409.370.5241
Point Of View Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 65992433
Last Updated: 10/31/2020
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