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16 N Greenbud Court The Woodlands, TX 77380

3 Beds 3 Baths 1,646 sqft Built 1982

$224,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $136.63
  • 5 Days on Market
  • MLS # : 37626064
  • Updated Date : 11/12/2020 at 17:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,646 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

NICE & COZY THREE BEDROOM HOME IN THE WOODLANDS!! ENJOY THE TREES, TRAILS, AND ALL OF THE OTHER WONDERFUL AMENITIES THAT GO ALONG WITH LIVING IN THE WOODLANDS!! THIS HOME IS READY FOR YOU! OWNER HAS RECENTLY REPLACED EXTERIOR WITH HARDI-PLANK (2017), RECENT A/C (2017), INSTALLED RECENT HOT WATER HEATER & DOUBLE PANED WINDOWS ALONG WITH INSULATION IN SPECIAL WRAPPING MATERIAL. BRAND NEW DISHWASHER JUST INSTALLED!! AWESOME DECK IN BACKYARD. GREAT ACCESS TO I-45!! THIS IS A MUST SEE!! WILL NOT LAST LONG!!

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 Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Grogan's Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Sam Hailey Elementary School Primary Regular 720 42 6
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Sam Hailey Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 42
6
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
 

$202,410$247,390$224,900

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 -$830
Property Tax -$441
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$158

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.

$224,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$16,865

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
  • $1

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 16 N Greenbud Court The Woodlands, TX 5
    • 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,646 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 39 S White Pebble Court The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1982
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 42 Dew Fall Court Spring, TX 2
    • 4 beds 3 baths ∙ 1,557 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,557 Sqft ∙ Built 1983
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.01
    •  
  • 27 N Greenbud Court The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1982
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 49 Rockfern Court The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1982
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Maria Moore
1.832.455.5388
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 37626064
Last Updated: 11/12/2020
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