Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

20007 Alcea Court Spring, TX 77379

3 Beds 2 Baths 2,380 sqft Built 2006

$274,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $115.50
  • 3 Days on Market
  • MLS # : 40096826
  • Updated Date : 01/08/2021 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,380 sqft
  • Baths : 2 full
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Beautiful traditional home with 3 bedrooms with a gameroom. Great Livingroom with a fireplace creates a warm spot for the family to gather. The open kitchen with lots of counters space, stainless steel appliances, breakfast bar and beautiful cabinetry will delight the family chef! Home has title in main and wet areas and carpet in bedrooms and extra room. Located on a quiet cul-de-sac with an HUGE back yard, covered back porch and an inviting front porch.

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: Gleannloch Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k404k

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

Neighborhood: Gleannloch Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10722562

* 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
Frank Elementary School Primary Regular 618 43 10
Doerre Intermediate School Middle Regular 1,151 75 8
Klein Cain High School High Regular NA

Frank Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 43
10
GreatSchools Rating

Doerre Intermediate School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 75
8
GreatSchools Rating

Klein Cain High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$955
Property Tax -$689
Property Insurance -$188
HOA -$83
Property Management Fees -$99
CASH FLOW
$46

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.

$274,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,094

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0003$2,0604$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 20007 Alcea Court Spring, TX 3
    • 3 beds 2 baths ∙ 2,380 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,380 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.87
    •  
  • 19910 Sternwood Manor Drive Spring, TX 1
    • 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,279 Sqft ∙ Built 2004
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 9310 Edgeloch Drive Spring, TX 2
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2002
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 19931 Letchfield Hollow Drive Spring, TX 4
    • 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 2002
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 19819 Sternwood Manor Drive Spring, TX 5
    • 3 beds 3 baths ∙ 2,352 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,352 Sqft ∙ Built 2002
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.91
    •  
PROPERTY LISTING DETAILS
Matt Compton
1.214.697.7084
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40096826
Last Updated: 01/08/2021
BESbswy