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17 Morning Forest Ct Court The Woodlands, TX 77381

3 Beds 2 Baths 1,206 sqft Built 1981

$205,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $169.98
  • 3 Days on Market
  • MLS # : 6970655
  • Updated Date : 01/16/2021 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,206 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Wow factor from the front door to the back door. Low maintenance satillo tile floors and beautiful engineered wood floors in bedrooms. Open concept kitchen to living. Beautiful dining room open to living room. Wooded views from every window. This is what living in The Woodlands is all about. Nestled on a three sided greenbelt lot, you'll enjoy the privacy! New SS appliances. Granite in all wet areas. Designated entry way that steps down to spacious living room with high ceilings. Split floor plan provides privacy inside for guest and children. Indoor utility room. Huge fenced lot admired from a covered deck located just off kitchen for great entertaining. Covered front porch for enjoying your wooded, landscaped front yard. Small circle street is very excluded. Close to Market Street and I-45. Very convenient. Move in Ready.

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: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k368k

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

Neighborhood: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722236

* 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
Glen Loch Elementary School Primary Regular 640 37 6
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Glen Loch Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 37
6
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$712
Property Tax -$387
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
$165

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.

$205,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$14,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,559

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4603$1,5554$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 17 Morning Forest Ct Court The Woodlands, TX 2
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.21
    •  
  • 5 Fiddleleaf Court The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,112 Sqft ∙ Built 1981
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.24
    •  
  • 9 W Bigelow Oak Court The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1981
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $1.35
    •  
  • 71 S Woodstock Circle Drive Spring, TX 4
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1981
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.30
    •  
  • 68 E White Willow Circle The Woodlands, TX 5
    • 4 beds 2 baths ∙ 1,366 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,366 Sqft ∙ Built 1981
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.28
    •  
PROPERTY LISTING DETAILS
Mary Jane Bradshaw
1.832.264.6576
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6970655
Last Updated: 01/16/2021
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