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1406 Kallie Hills Lane Spring, TX 77386

4 Beds 3 Baths 2,621 sqft Built 2012

$300,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $114.46
  • 5 Days on Market
  • MLS # : 60455266
  • Updated Date : 03/17/2021 at 14:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,621 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Perry Homes doesn't disappoint with this gorgeous Gem! This beautiful 2 story, 4 bedroom, and 2.5 bath home is the picture of luxury located in the amenity enriched neighborhood of Spring Trails. From the the high ceiling entry way and open study with floor to ceiling built in desk and shelving, to the wide open kitchen that overlooks the massive island and large living room. Each touch speaks of a home well maintained from every stone to each loving touch of the interior. Situated less than 5 miles from I-45 offers a short commute. Make 1406 Kallie Hills "Home" 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: Spring Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k314k

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

Neighborhood: Spring Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722096

* 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
Broadway Elementary School Primary Regular 974 55 9
York Junior High School Middle Regular 1,002 58 8
Grand Oaks High School High Unknown NA

Broadway Elementary School

  • Education Level: Primary
  • # of students: 974
  • # of teachers: 55
9
GreatSchools Rating

York Junior High School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 58
8
GreatSchools Rating

Grand Oaks High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$270,000$330,000$300,000

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 -$1,042
Property Tax -$704
Property Insurance -$178
HOA -$60
Property Management Fees -$99
CASH FLOW
$117

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.

$300,000

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) 3.1%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

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 $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,323

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
  • $0.84

    LIST RENT PER SQFT
  • $2,346

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,2504$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1406 Kallie Hills Lane Spring, TX 2
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 28010 Brendon Trail Court Spring, TX 1
    • 4 beds 2 baths ∙ 2,577 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,577 Sqft ∙ Built 2006
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 1216 Matthew Hills Lane Spring, TX 3
    • 4 beds 4 baths ∙ 2,497 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,497 Sqft ∙ Built 2011
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 1618 Eden Meadows Drive Spring, TX 4
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2010
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 4319 Croft Creek Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2018
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Joel Griffin
1.832.655.5757
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 #: 60455266
Last Updated: 03/17/2021
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