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190 Tortoise Creek Way Spring, TX 77389

4 Beds 3 Baths 2,428 sqft Built 2008

INVESTimate

$319,500

List Price

$2,310

$2,079 - $2,541

Rent Est.

$329,053  ( +2.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $131.59
  • 6 Days on Market
  • MLS # : 78412778
  • Updated Date : 08/21/2020 at 14:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,428 sqft
  • Baths : 2 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

Welcome Home to 190 Tortoise Creek Way in The Woodlands! The Village of Creekside Park has plenty to do outside including a fishing pond a very short walk around the corner from your front door. This beautiful 4 bedroom 2 1/2 bath home sits on a great lot with no rear neighbors. The kitchen boasts lots of counter space with an eat-at breakfast bar, island, and gas cooktop (all stainless steel appliances). The game room upstairs is a great place to kick back with the family. Both the front porch and back patio have been overlaid with carvestone as well as a widened driveway and walkway up to the front of the home. This home has a new roof (March 2020), new paint throughout (2019) and crown moulding.

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: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10723103

* 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
Timber Creek Elementary School Primary Unknown 656 41 10
Tomball Intermediate School Middle Regular 715 53 8
Tomball High School High Regular 1,624 93 8

Timber Creek Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
10
GreatSchools Rating

Tomball Intermediate School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 53
8
GreatSchools Rating

Tomball High School

  • Education Level: High
  • # of students: 1,624
  • # of teachers: 93
8
GreatSchools Rating
 

$287,550$351,450$319,500

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,179
Property Tax -$749
Property Insurance -$191
Property Management Fees -$99
CASH FLOW
$92

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.

$319,500

PROJECTED PRICE

$2,310

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.99%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,418

INVESTMENT

$90,418

Down Payment
$79,875
Rehab Estimate
$5,750
Closing Costs
$4,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,179

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,875
Loan Amount $239,625
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,301

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2503$2,3104$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 190 Tortoise Creek Way Spring, TX 3
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.95
    •  
  • 31 Pleasant Point Place Spring, TX 1
    • 4 beds 2 baths ∙ 2,408 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,408 Sqft ∙ Built 2008
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
  • 35 Pleasant Point Place Spring, TX 2
    • 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,383 Sqft ∙ Built 2008
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 166 Tortoise Creek Way The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2008
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
  • 42 Rocky Point Court Spring, TX 5
    • 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,601 Sqft ∙ Built 2008
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Andrea Havard
1.713.962.9117
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 78412778
Last Updated: 08/21/2020
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