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2 Meadow Beauty Court The Woodlands, TX 77381

3 Beds 3 Baths 2,330 sqft Built 1982

$309,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $132.62
  • 4 Days on Market
  • MLS # : 82128319
  • Updated Date : 01/28/2021 at 10:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,330 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Gorgeous, 3/4 bedroom on a corner, cul-de-sac lot. This home has all the updates, including NEW ROOF '20, FENCE '19, STORAGE SHED '20, HVAC SYSTEM '14 & WATER HEATER '15. Kitchen remodel includes cabinets, granite counters, SS appliances including refrigerator that will stay in the home, undermount sink w/professional style faucet and brushed nickel fixtures & pulls. With this open floorplan, you can see thru the home with large windows overlooking the private backyard with no rear neighbors directly behind. There are wood looking tile floors throughout the downstairs, stairway and the upstairs hall. Downstairs primary bedroom and upstairs secondary bedrooms along with the bonus room have carpet. There is also access to a huge walkout attic space perfect for holiday decor & other keepsakes. This upfront location in The Woodlands is close to shopping, restaurants and access to I-45, for a quick commute to work, and within walking distance to schools, parks and pools. Come look today!

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: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k368k

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

Neighborhood: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722236

* 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
Sally Ride Elementary School Primary Regular 568 36 9
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Sally Ride Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 36
9
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,073
Property Tax -$571
Property Insurance -$162
Property Management Fees -$99
CASH FLOW
$45

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.

$309,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,080

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1004$2,1255$2,450
$2,450
RENT COMPS ANALYSIS
  • 2 Meadow Beauty Court The Woodlands, TX 1
    • 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 11 Sand Piper Place The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 1984
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 23 Windfellow Place The Woodlands, TX 3
    • 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,514 Sqft ∙ Built 1984
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 108 E Lakeridge Drive Spring, TX 4
    • 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1993
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.90
    •  
  • 7 Brookline Court The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1989
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Joyce Smith
1.713.703.5078
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 #: 82128319
Last Updated: 01/28/2021
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