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18 Shinyrock Place The Woodlands, TX 77381

4 Beds 3 Baths 2,328 sqft Built 1990

$340,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $146.05
  • 3 Days on Market
  • MLS # : 58194283
  • Updated Date : 11/20/2020 at 14:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,328 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

DON'T MISS this move-in ready, UPGRADED, cul-de-sac home in the heart of The Woodlands. Laminate wood flooring throughout the entire home. Updated kitchen with new backsplash & appliances. Family room boasts new fireplace and mantle, upgraded light fixtures and contemporary paint throughout. Formal living, family, breakfast and dining room provide room for family and friends to gather. Upstairs bedrooms feature custom shelving. Enjoy the back yard oasis with ample decking, pool and firepit. Zoned to Galatas elementary and TWHS. Within walking distance of the neighborhood pond and multiple parks. New AC July 2020. MUST SEE!

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
Galatas Elementary School Primary Regular 660 40 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Galatas Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 40
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,254
Property Tax -$654
Property Insurance -$162
Property Management Fees -$99
CASH FLOW
$42

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.

$340,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.65%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,188

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2104$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 18 Shinyrock Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.95
    •  
  • 134 W Copper Sage Circle The Woodlands, TX 1
    • 5 beds 3 baths ∙ 2,524 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,524 Sqft ∙ Built 1990
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 7 Roundtop Place The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 1989
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 89 W Rainbow Ridge Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 1986
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
  • 14 Amber Sky Place The Woodlands, TX 5
    • 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Diane Kink
1.281.364.4828
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 #: 58194283
Last Updated: 11/20/2020
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