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20318 Spoonwood Drive Humble, TX 77346

3 Beds 2 Baths 1,994 sqft Built 1990

$215,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $107.82
  • 5 Days on Market
  • MLS # : 6794705
  • Updated Date : 01/15/2021 at 17:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This might be the best investment you'll make in 2021! 1-Story home on the 6th Fairwary of The Golf Preserve of Atascocita. Large Den with corner fireplace, formal Dining Room features Crown Molding and updated Kitchen including Granite Countertops with tumbled stone backsplash and Stainless Steel appliances. Window plant shelf at sink that would be perfect for growing herbs! Primary bedroom has 3 closets. Huge utility room with sink, counter space cabinets and step-in Pantry. No carpet! Enjoy your morning coffee in the Spring, Summer and Fall on your 33'x11' screened porch overlooking the golf course. HVAC system less than 1 year old. Oversized garage with pull down storage. Property has not flooded. Close to Lake Houston, shopping and schools. 27 holes of exceptional golf!! There's just one conclusion, this move-in ready home is the obvious choice!

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: Pinehurst of Atascocita

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k325k

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

Neighborhood: Pinehurst of Atascocita

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722080

* 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
Pine Forest Elementary School Primary Regular 659 40 7
Atascocita Middle School Middle Regular 1,161 66 6
Atascocita High School High Regular 3,214 182 6

Pine Forest Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 40
7
GreatSchools Rating

Atascocita Middle School

  • Education Level: Middle
  • # of students: 1,161
  • # of teachers: 66
6
GreatSchools Rating

Atascocita High School

  • Education Level: High
  • # of students: 3,214
  • # of teachers: 182
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$747
Property Tax -$447
Property Insurance -$162
HOA -$54
Property Management Fees -$99
CASH FLOW
$61

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.

$215,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

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

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$5,585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,600

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,6504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 20318 Spoonwood Drive Humble, TX 2
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.79
    •  
  • 8618 Summit Pines Drive Humble, TX 1
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 1993
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 19522 Autumn Creek Lane Humble, TX 3
    • 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1983
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 8522 Pines Place Drive Humble, TX 4
    • 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,116 Sqft ∙ Built 1983
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 20135 Sunny Shores Drive Humble, TX 5
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1991
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Susan Brown
1.281.415.1454
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 #: 6794705
Last Updated: 01/15/2021
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