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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $84.80
- 2 Days on Market
- MLS # : 81105348
- Updated Date : 12/26/2020 at 11:53
CONSTRUCTION
- Beds : 4
- Floor Size : 2,947 sqft
- Baths : 2 full , 1 half
Listing Agent
Bhgre Gary Greene
Listing Agent's Description
Terranova West, known for large homesites. tree lined streets and custom built homes. This beautifully landscaped front lawn, fresh exterior paint and updated front door say "Welcome"! Classic white kitchen includes large island, breakfast bar, recipe desk, box window seat and an abundance of cabinetry. Built-in bookshelves offer function and design to the primary bath, family room and game room. First-floor master boasts his/hers closets, crown molding and an updated bath showcasing recent updates to the shower, granite tops, faucets, mirrors and tub surround. A large gameroom with built-ins, 3 bedrooms and bath await upstairs. Updated granite tops, faucet, sink, mirror in the powder bath. Nicely sized backyard and an extended covered back patio. ROOF and PEX re-pipe in 2019. Crown molding throughout, fresh neutral interior paint, tres ceilings and new engineered wood flooring in the dining room. New carpet coming to master, along with carpet stretching scheduled for upstairs.
SEE MORE
- 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: Terranova West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Terranova West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,110 |
| EXPENSES | Loan Payment | -$922 |
| Property Tax | -$604 | |
| Property Insurance | -$226 | |
| HOA | -$68 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$192
|
||
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.
$249,900
PROJECTED PRICE
$2,110
PROJECTED RENT
0.84%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 5.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$71,974
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,475 |
| Loan Amount | $187,425 |
4.92
YEARS SAVED
$15,056
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,110
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$2,100
COMP ESTIMATED VALUE -
$0.71
COMP AVG. RENT PER SQFT
Comps Range
-
17703 Terrawren Lane Spring, TX 2
- 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 1984
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- Rent Per SQFT
- $2,110
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-
17815 Fireside Drive Spring, TX 1
- 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 1986
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,900
- $0.67
-
16022 Fawn Vista Houston, TX 3
- 3 beds 4 baths ∙ 3,090 Sqft ∙ Built 1995 3 beds 4 baths ∙ 3,090 Sqft ∙ Built 1995
LEASED 06/29/20- Rent
- Rent Per SQFT
- $2,200
- $0.71
-
6627 Trebeck Lane Spring, TX 4
- 3 beds 3 baths ∙ 2,888 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,888 Sqft ∙ Built 1982
LEASED 07/02/20- Rent
- Rent Per SQFT
- $2,200
- $0.76
-
6334 Borg Breakpoint Drive Spring, TX 5
- 4 beds 3 baths ∙ 3,109 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,109 Sqft ∙ Built 2003
LEASED 07/20/20- Rent
- Rent Per SQFT
- $2,200
- $0.71
PROPERTY LISTING DETAILS
1.832.768.1626
Bhgre Gary Greene
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 81105348
Last Updated: 12/26/2020
