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16331 Knightrider Drive Spring, TX 77379

3 Beds 3 Baths 2,166 sqft Built 1994

$269,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $124.19
  • 3 Days on Market
  • MLS # : 5756593
  • Updated Date : 11/27/2020 at 23:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,166 sqft
  • Baths : 3 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Gorgeous one story that has been meticulously maintained. Low maintenance patio home with no back neighbors! Never flooded, 3 bedrooms, 3 bathrooms plus a dedicated study, formal dining room & a large bright kitchen for the pickiest chef & entertaining. Vaulted ceilings. Plantation shutters throughout, granite counters in kitchen & bathrooms. Touch activated kitchen faucet, Bosch dishwasher, Insteon home automation, new AC in 2019, smart thermostat, doorbell & smoke/carbon detectors. Huge primary bedroom closet! Texas basement for easy attic storage & access. The home office has a private courtyard for light & relaxation. This back porch offers a quiet retreat area perfect for outdoor living & entertaining. The greenbelt area in the back gives a park like feel, perfect for afternoon walks or running, etc.. Close to shopping, entertainment and restaurants in the Vintage & Champions areas. Multiple parks & recreation areas close by. Acclaimed Klein schools. This one won't last long!

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: Champion Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k407k

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

Neighborhood: Champion Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10722718

* 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
Brill Elementary School Primary Regular 765 50 7
Kleb Intermediate School Middle Regular 1,396 76 6
Klein High School High Regular 3,885 228 6

Brill Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 50
7
GreatSchools Rating

Kleb Intermediate School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 76
6
GreatSchools Rating

Klein High School

  • Education Level: High
  • # of students: 3,885
  • # of teachers: 228
6
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$992
Property Tax -$535
Property Insurance -$174
HOA -$21
Property Management Fees -$99
CASH FLOW
$99

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.

$269,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,940

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6754$1,7455$1,920
$1,920
RENT COMPS ANALYSIS
  • 16331 Knightrider Drive Spring, TX 5
    • 3 beds 3 baths ∙ 2,166 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,166 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.89
    •  
  • 7922 Friars Court Lane Spring, TX 1
    • 3 beds 2 baths ∙ 2,225 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,225 Sqft ∙ Built 1977
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 7927 Friars Court Lane Spring, TX 2
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 1977
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 7702 Heathrow Lane Spring, TX 3
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 1978
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.80
    •  
  • 7914 Annola Lane Spring, TX 4
    • 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,161 Sqft ∙ Built 1977
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.81
    •  
PROPERTY LISTING DETAILS
Mimi Tanner
1.281.825.6892
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 #: 5756593
Last Updated: 11/27/2020
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