Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1419 Chesterpoint Drive Spring, TX 77386

3 Beds 3 Baths 2,244 sqft Built 1998

$232,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $103.39
  • 3 Days on Market
  • MLS # : 56635211
  • Updated Date : 01/09/2021 at 17:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,244 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Welcome to your new home in Imperial Oaks! Nestled in the peace and serenity of Imperial Oaks, this lovely home features a spacious yard with mature trees, soaring ceilings, amazing natural light, a cozy loft for entertaining, and both formal living & dining areas! Recent updates in December 2020 include beautiful wood-look flooring, modern paint color selections throughout, and new carpet! Make an offer TODAY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732063

* 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
Kaufman Elementary School Primary Regular 864 51 10
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Kaufman Elementary School

  • Education Level: Primary
  • # of students: 864
  • # of teachers: 51
10
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$208,800$255,200$232,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$806
Property Tax -$515
Property Insurance -$157
HOA -$42
Property Management Fees -$99
CASH FLOW
$32

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.

$232,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,230

INVESTMENT

$67,230

Down Payment
$58,000
Rehab Estimate
$5,750
Closing Costs
$3,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,000
Loan Amount $174,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,677

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,532
1$1,5322$1,6503$1,7004$1,7005$1,895
$1,895
RENT COMPS ANALYSIS
  • 1419 Chesterpoint Drive Spring, TX 2
    • 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 32331 Hunter Park Conroe, TX 1
    • 3 beds 3 baths ∙ 2,276 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,276 Sqft ∙ Built 2002
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,532
    • $0.67
    •  
  • 32434 Hunter Park Conroe, TX 3
    • 3 beds 3 baths ∙ 2,281 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,281 Sqft ∙ Built 2002
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 32215 Willow Creek Park Conroe, TX 4
    • 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2002
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 707 Loone Court Spring, TX 5
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2001
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
PROPERTY LISTING DETAILS
Shantella Y. Williams
1.832.304.4056
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56635211
Last Updated: 01/09/2021
BESbswy