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1723 Whispering Forest Drive Kingwood, TX 77339

3 Beds 2 Baths 1,708 sqft Built 1998

$203,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $118.85
  • 3 Days on Market
  • MLS # : 36355429
  • Updated Date : 12/05/2020 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,708 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Do not miss your opportunity to live in one of the best locations in Kingwood...Kingwood Place Village! Excellently located near Hwy 59, the golf course, top schools and medical facilities. This one story home has been impeccably maintained, is squeaky clean and ready for it's new owners. The open floor plan makes for easy living with a large Family Room opening to both the Kitchen and Dining Room with large tile floors. The Kitchen has plenty of counter space as well as a Breakfast Bar. The split floor plan allows for privacy in the primary bedroom at the back of the home with it's own door to the patio. A large shower + double sinks make for the perfect primary bathroom as well as a very large walk in closet. Enjoy your beautiful back yard from the patio! Full sprinkler system. Replaced all windows with double paned windows! NO FLOODING!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Kingwood Place Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Kingwood Place Village

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
Foster Elementary School Primary Regular 598 34 6
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Foster Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 34
6
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

$182,700$223,300$203,000

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 -$749
Property Tax -$428
Property Insurance -$144
HOA -$41
Property Management Fees -$99
CASH FLOW
$189

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.

$203,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 9.8%
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$800k

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$59,545

INVESTMENT

$59,545

Down Payment
$50,750
Rehab Estimate
$5,750
Closing Costs
$3,045

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$749

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,750
Loan Amount $152,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$17,155

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
  • $0.95

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1723 Whispering Forest Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 1606 Blossom Creek Court Kingwood, TX 1
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1997
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 2014 White Oaks Hills Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 1995
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 2006 Ridgeway Park Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1997
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 1522 Stoney Park Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 1996
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Melonee Piperi
1.713.465.4646
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 36355429
Last Updated: 12/05/2020
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