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17718 December Pine Lane Spring, TX 77379

4 Beds 3 Baths 2,808 sqft Built 1983

$300,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $106.84
  • 5 Days on Market
  • MLS # : 55992205
  • Updated Date : 11/02/2020 at 13:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,808 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

A perfect place to call home with a beautiful sparkling pool, spa & large covered patio. An inviting foyer welcomes you to a versatile living room & dining room or use it as a study & TV room. Large double paned windows across the den & breakfast room look out to pool & spa. Kitchen has been updated with new granite counter tops, under cabinet lighting and nice pantry. The den has brick fireplace, mantle + a wet bar tucked under staircase. Master has plantation shutters & lighted ceiling fans. Amazing master bath was recently updated with frameless shower, 2 vanities & large soaking tub + 2 separate closets! Hardwoods & tile with carpet in bedrooms & game room. Upstairs is a spacious game room & 3 bedrooms + big bath, double sinks, private tub area & lots of storage. Double wide driveway, big 2 1/2 car garage has nice workbench area. It is nestled on a quiet street & convenient to acclaimed Klein schools, shopping, restaurants & medical. Easy access to HWY 249, Beltway & Grand Parkway.

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: Memorial Northwest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Memorial Northwest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10722435

* 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
Theiss Elementary School Primary Regular 621 39 9
Doerre Intermediate School Middle Regular 1,151 75 8
Klein High School High Regular 3,885 228 6

Theiss Elementary School

  • Education Level: Primary
  • # of students: 621
  • # of teachers: 39
9
GreatSchools Rating

Doerre Intermediate School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 75
8
GreatSchools Rating

Klein High School

  • Education Level: High
  • # of students: 3,885
  • # of teachers: 228
6
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,107
Property Tax -$627
Property Insurance -$217
HOA -$50
Property Management Fees -$99
CASH FLOW
$130

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.

$300,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.2%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$13,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7993$1,9004$1,9005$2,230
$2,230
RENT COMPS ANALYSIS
  • 17718 December Pine Lane Spring, TX 5
    • 4 beds 3 baths ∙ 2,808 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,808 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.79
    •  
  • 17814 Theisswood Lane Spring, TX 1
    • 5 beds 3 baths ∙ 2,802 Sqft ∙ Built 1974 5 beds 3 baths ∙ 2,802 Sqft ∙ Built 1974
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.60
    •  
  • 7611 Theisswood Road Spring, TX 2
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1970
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.69
    •  
  • 8303 Teakwood Forest Drive Spring, TX 3
    • 4 beds 4 baths ∙ 2,805 Sqft ∙ Built 1976 4 beds 4 baths ∙ 2,805 Sqft ∙ Built 1976
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
  • 8819 Village Hills Drive Spring, TX 4
    • 5 beds 4 baths ∙ 2,728 Sqft ∙ Built 1991 5 beds 4 baths ∙ 2,728 Sqft ∙ Built 1991
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.70
    •  
PROPERTY LISTING DETAILS
Linda Beck
1.281.433.2087
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55992205
Last Updated: 11/02/2020
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