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20207 Cannaberry Way Spring, TX 77388

4 Beds 3 Baths 2,366 sqft Built 1986

$220,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $92.98
  • 9 Days on Market
  • MLS # : 10187447
  • Updated Date : 10/30/2020 at 14:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,366 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Great two story in Oaks of Devonshire! Elegant style home with brick/Hardy plank exterior and detached garage . This is a 4 bedrooms, 2.5 bathrooms, Primary Bedroom down with 3 other bedrooms up stairs and a game room. Rooms Measurements are estimated and please check for correct measurements. This is Klein ISD School and Close to I45. This house is "Sold As It Is". No repairs will be done. House occupied, 2 hours Appointment Required.

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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

Zip Code: 77388

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77388

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10632063

* 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
Lemm Elementary School Primary Regular 588 38 7
Strack Intermediate School Middle Regular 1,196 73 7
Klein Collins High School High Regular 3,580 201 6

Lemm Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 38
7
GreatSchools Rating

Strack Intermediate School

  • Education Level: Middle
  • # of students: 1,196
  • # of teachers: 73
7
GreatSchools Rating

Klein Collins High School

  • Education Level: High
  • # of students: 3,580
  • # of teachers: 201
6
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$812
Property Tax -$500
Property Insurance -$187
HOA -$41
Property Management Fees -$99
CASH FLOW
$182

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.

$220,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.8%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,863

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,8004$1,8205$1,900
$1,900
RENT COMPS ANALYSIS
  • 20207 Cannaberry Way Spring, TX 4
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.77
    •  
  • 19643 Teller Boulevard Spring, TX 1
    • 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,238 Sqft ∙ Built 1983
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.75
    •  
  • 2231 Louetta Brook Lane Spring, TX 2
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 2000
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
  • 19618 Enchanted Oaks Drive Spring, TX 3
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1978
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 19927 Teller Boulevard Spring, TX 5
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 1988
    property image
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
PROPERTY LISTING DETAILS
Mufutau Adewunmi
1.832.315.1328
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10187447
Last Updated: 10/30/2020
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