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18038 Atwood Mill Drive New Caney, TX 77357

4 Beds 2 Baths 1,776 sqft Built 2018

$221,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $124.44
  • 6 Days on Market
  • MLS # : 63579279
  • Updated Date : 01/19/2021 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,776 sqft
  • Baths : 2 full
Listing Agent

Texas Ally Real Estate Group,

Listing Agent's Description

4 bedroom home, comes with all appliances, Water proof floors in main living areas, Island kitchen, stainless steel appliances, open concept, Primary bath has double vanity sinks, separate tub and shower with walk-in closet, blinds, garage door opener and sprinkler system included. Covered patio ready to enjoy. 4 habitaciones, viene con todos los electrodomésticos, pisos a prueba de agua en las áreas de estar principales, cocina con isla, electrodomésticos de acero inoxidable, concepto abierto, baño principal con tocador doble, bañera y ducha independientes con vestidor, persianas y garaje abridor de puerta y sistema de rociadores incluidos. Patio cubierto listo para disfrutar.

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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

Zip Code: 77357

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Zip Code: 77357

ZipNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7271677

* 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
Robert Crippen Elementary School Primary Regular 840 49 3
White Oak Middle School Middle Regular 784 53 4
Porter High School High Regular 1,677 118 4

Robert Crippen Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 49
3
GreatSchools Rating

White Oak Middle School

  • Education Level: Middle
  • # of students: 784
  • # of teachers: 53
4
GreatSchools Rating

Porter High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 118
4
GreatSchools Rating
 

$198,900$243,100$221,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$768
Property Tax -$443
Property Insurance -$130
HOA -$58
Property Management Fees -$99
CASH FLOW
$313

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$221,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,315

INVESTMENT

$64,315

Down Payment
$55,250
Rehab Estimate
$5,750
Closing Costs
$3,315

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$768

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,250
Loan Amount $165,750
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$29,915

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,810
$1,810
RENT COMPS ANALYSIS
  • 18038 Atwood Mill Drive New Caney, TX 2
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.02
    •  
  • 20428 Lakeside Drive Porter, TX 1
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jose Hidalgo
1.830.708.2666
Texas Ally Real Estate Group,
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 63579279
Last Updated: 01/19/2021
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