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174 S Winterport Circle The Woodlands, TX 77382

3 Beds 2 Baths 2,062 sqft Built 1995

$299,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $145.00
  • 2 Days on Market
  • MLS # : 15881055
  • Updated Date : 02/06/2021 at 11:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,062 sqft
  • Baths : 2 full
Listing Agent

Abby Realty

Listing Agent's Description

Welcome home to this open floor plan 3 bedroom, 2 bathroom beauty. Conveniently located in Alden Bridge close to the Alden Bridge shopping center and within walking distance to Bush Elementary and Mitchell Intermediate. Hardwood floors throughout main living are easy to maintain. AC and hot water heater replaced in 2015! Granite countertops and newer stainless steel appliances in kitchen. Refrigerator stays!

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: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723320

* 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
Bush Elementary School Primary Regular 698 42 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Bush Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
10
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,039
Property Tax -$580
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
$187

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$299,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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$14k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,067

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0503$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 174 S Winterport Circle The Woodlands, TX 2
    • 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.99
    •  
  • 23 Lamps Glow Place Spring, TX 1
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 18 E Pipers Green Street The Woodlands, TX 3
    • 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 2004
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 10 Wind Harp Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1995
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
  • 140 S Winterport Circle Spring, TX 5
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Amy Mcdaniel
1.832.326.6890
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 15881055
Last Updated: 02/06/2021
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