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16935 Valley Palms Drive Spring, TX 77379

4 Beds 3 Baths 2,616 sqft Built 1995

$239,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $91.70
  • 2 Days on Market
  • MLS # : 59434514
  • Updated Date : 12/19/2020 at 19:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,616 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Generation

Listing Agent's Description

Huge 4 bedroom home in highly desired Champion Springs in the Klein School district. This one won't last for the size of home and big cul-de-sac lot. Oversized laundry area the was previously a 3rd car garage from previous owner. Kitchen pantry is now a huge walk-in with plenty of food storage. Home has Family den with fireplace, formal living room,, and formal dining room. Breakfast area id off the kitchen. No neighbors on one side. Extra wide lot with double gated entry into the backyard for a boat or trailer. Master bedroom has sitting area for nursing or reading. 4th bedroom has double doors that can be used as an office or gameroom. Primary bath has double sinks and separate shower and soaking tub. Great neighborhood to raise a family with pool, park and pond in walking distance. Amazing shopping all around and easy access to freeways. This one is a must see. call today to schedule your private showing.

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: Champion Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Champion Springs

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
Krahn Elementary School Primary Regular 741 48 8
Kleb Intermediate School Middle Regular 1,396 76 6
Klein Cain High School High Regular NA

Krahn Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 48
8
GreatSchools Rating

Kleb Intermediate School

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

Klein Cain High School

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

$215,910$263,890$239,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$885
Property Tax -$504
Property Insurance -$204
HOA -$55
Property Management Fees -$99
CASH FLOW
$183

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.

$239,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.5%
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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,831

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7963$1,8004$1,9305$2,085
$2,085
RENT COMPS ANALYSIS
  • 16935 Valley Palms Drive Spring, TX 4
    • 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.74
    •  
  • 17018 River Willow Drive Spring, TX 1
    • 5 beds 4 baths ∙ 2,684 Sqft ∙ Built 1989 5 beds 4 baths ∙ 2,684 Sqft ∙ Built 1989
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.65
    •  
  • 17207 Lazy Hill Lane Spring, TX 2
    • 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 1977
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,796
    • $0.71
    •  
  • 8903 Cypress Square Drive Spring, TX 3
    • 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1996
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.66
    •  
  • 17026 River Willow Drive Spring, TX 5
    • 5 beds 4 baths ∙ 2,684 Sqft ∙ Built 1990 5 beds 4 baths ∙ 2,684 Sqft ∙ Built 1990
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $0.78
    •  
PROPERTY LISTING DETAILS
Albert Yanez
1.281.726.9919
Re/max Generation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 59434514
Last Updated: 12/19/2020
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