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1903 Mercoal Drive Spring, TX 77386

3 Beds 2 Baths 2,136 sqft Built 1982

$210,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $98.31
  • 5 Days on Market
  • MLS # : 16837766
  • Updated Date : 01/09/2021 at 18:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,136 sqft
  • Baths : 2 full
Listing Agent

Texan Realtors.com, Llc

Listing Agent's Description

Great Location, Low taxes, Massive Cul-De-Sac lot, loaded w/ upgrades are just a few ways to describe this incredible ranch. If you're looking for a home that won't break the bank, surrounded by trees on a quiet lot then this is the place for you. Home includes recently replaced, Carpet, Wood look luxury vinyl, Paint, Roof, HVAC, Plumbing & Light fixtures, Stainless appliances, French doors and more. You've Got to see the master closet. It's like nothing you've ever seen before. Three pools and splash pads to choose from including dog park, Tennis court, Volleyball & Basketball courts. Zoned to amazing CISD schools, Hospital, Movie Theatre. Minutes to the future YMCA. Walking distance to Kroger, shopping and dining. Enter/Exit neighborhood through multiple routes for easy access to The Woodlands, Market Street & Downtown Houston via the Grand Parkway. Less than 10 minutes to I-45, Grand Parkway & Hardy. Don't miss this rare opportunity schedule TODAY.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732063

* 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
Kaufman Elementary School Primary Regular 864 51 10
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Kaufman Elementary School

  • Education Level: Primary
  • # of students: 864
  • # of teachers: 51
10
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$729
Property Tax -$466
Property Insurance -$150
HOA -$42
Property Management Fees -$99
CASH FLOW
$283

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.

$210,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.5%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$22,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7704$1,8455$1,850
$1,850
RENT COMPS ANALYSIS
  • 1903 Mercoal Drive Spring, TX 3
    • 3 beds 2 baths ∙ 2,136 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,136 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.83
    •  
  • 30835 N Head Drive Spring, TX 1
    • 3 beds 3 baths ∙ 1,997 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,997 Sqft ∙ Built 1995
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 25714 Richards Road Spring, TX 2
    • 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,005 Sqft ∙ Built 1994
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 30211 Stoney Plain Drive Spring, TX 4
    • 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 1993
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.87
    •  
  • 30107 Bashaw Drive Spring, TX 5
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 1995
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
PROPERTY LISTING DETAILS
Dj Arsenault
1.281.989.6934
Texan Realtors.com, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 16837766
Last Updated: 01/09/2021
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