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17655 Windy Point Drive Spring, TX 77379

4 Beds 2 Baths 1,936 sqft Built 1989

$215,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $111.05
  • 2 Days on Market
  • MLS # : 86104795
  • Updated Date : 01/23/2021 at 23:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,936 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Partners

Listing Agent's Description

Charming one story home with 4 bedrooms and 2 full baths. Bricked on all four sides. Great curb appeal. Open floor plan with vaulted ceilings and natural lighting throughout. Nice dining area opens to a cozy family room, with gas log fireplace & laminate flooring. Beautiful kitchen with a lot of cabinets and granite countertops. Five burner, convection, self-cleaning, gas stainless steal stove, microwave and quiet Kitchenaid dishwasher . Large utility room 10”X8”, plenty of space for a freezer. Spacious primary bedroom, ensuite bath w/double sinks, garden tub and separate shower. Extra large walk-in closet. Good seized secondary bedrooms. Peaceful backyard with stone paver patio, pond, and a 3 tiered fountain. Perfect for relaxing and entertaining. Lifetime storage shed 8”X15”,w/double doors, seated on raised foundation. Great location with easy access to 249. Grand Parkway. Zoned to the desirable Klein ISD school district with elementary school in the subdivision. NEVER FLOODED.

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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: Oakwood Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k270k

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

Neighborhood: Oakwood Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9121932

* 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
Ehrhardt Elementary School Primary Regular 691 46 7
Kleb Intermediate School Middle Regular 1,396 76 6
Klein High School High Regular 3,885 228 6

Ehrhardt Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 46
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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$747
Property Tax -$485
Property Insurance -$158
HOA -$39
Property Management Fees -$99
CASH FLOW
$82

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.

$215,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$7,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,6104$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 17655 Windy Point Drive Spring, TX 3
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.83
    •  
  • 17611 Smooth Rock Falls Drive Spring, TX 1
    • 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 1990
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.79
    •  
  • 6910 Fawn River Drive Spring, TX 2
    • 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,052 Sqft ∙ Built 1978
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 17811 Smooth Rock Falls Drive Spring, TX 4
    • 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,921 Sqft ∙ Built 1978
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 17706 Mellow Ridge Dr Spring, TX 5
    • 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,928 Sqft ∙ Built 1980
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.87
    •  
PROPERTY LISTING DETAILS
Francoise Ford
1.713.857.7473
Century 21 Realty Partners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 86104795
Last Updated: 01/23/2021
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