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2 S Crossed Birch Pl Place Spring, TX 77381

3 Beds 3 Baths 2,626 sqft Built 1997

$384,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $146.23
  • 46 Days on Market
  • MLS # : 27024325
  • Updated Date : 01/22/2021 at 17:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,626 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Come in and check out this amazing home. The house has everything. Three bedrooms with a multigenerational setup. The best part about this house is the amazing back yard. With plenty of room for any activity back there and with no back neighbors its a Woodlands paradise. The kitchen has a great layout with a beautiful island cooktop and plenty of storage and counter space. Their is an atrium right off the kitchen that would be great for a smoker or grill for those chefs that like to keep everything close. The garage is tandem which can become a perfect flex space for a garage gym. Come and check this house out today.

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
Mitchell Intermediate School Primary Regular 1,208 63 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Mitchell Intermediate School

  • Education Level: Primary
  • # of students: 1,208
  • # of teachers: 63
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
 

$345,600$422,400$384,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,334
Property Tax -$738
Property Insurance -$179
Property Management Fees -$99
CASH FLOW
$10

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.

$384,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.61%

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$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,510

INVESTMENT

$107,510

Down Payment
$96,000
Rehab Estimate
$5,750
Closing Costs
$5,760

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,334

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,000
Loan Amount $288,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,396

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3603$2,3754$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 2 S Crossed Birch Pl Place Spring, TX 2
    • 3 beds 3 baths ∙ 2,626 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,626 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.90
    •  
  • 34 W Stony End Place The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 1992
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 29 Summer Court The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1991
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.93
    •  
  • 126 Summer Storm Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1993
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 6 Bayginger Place The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1991
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
PROPERTY LISTING DETAILS
Lucas Frank
1.713.906.5087
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 #: 27024325
Last Updated: 01/22/2021
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