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20347 Little Wing Drive Spring, TX 77388

3 Beds 2 Baths 2,153 sqft Built 2005

$245,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $113.79
  • 3 Days on Market
  • MLS # : 54725500
  • Updated Date : 03/13/2021 at 20:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,153 sqft
  • Baths : 2 full
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Beautiful former D.R. Horton Model home. Home has 3 spacious bedrooms with an outstanding study. Custom tile throughout, granite counters and all stainless appliances. The covered porch makes this back yard the most inviting and has a stunning corner front elevation and beautiful landscaping. Crown molding and custom paint throughout. Yard is equipped with full sprinkler system. Home is conveniently located and is in the highly desired Klein ISD

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

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
Haude Elementary School Primary Regular 698 43 7
Strack Intermediate School Middle Regular 1,196 73 7
Klein Collins High School High Regular 3,580 201 6

Haude Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 43
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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$851
Property Tax -$556
Property Insurance -$173
HOA -$38
Property Management Fees -$99
CASH FLOW
$53

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.

$245,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.72%

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-$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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6993$1,7504$1,7705$1,850
$1,850
RENT COMPS ANALYSIS
  • 20347 Little Wing Drive Spring, TX 4
    • 3 beds 2 baths ∙ 2,153 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,153 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.82
    •  
  • 18922 Cypresswood Forest Court Spring, TX 1
    • 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 1994
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.85
    •  
  • 20530 Spring Bluff Lane Spring, TX 2
    • 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2002
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.79
    •  
  • 2031 Treasure Mountain Drive Spring, TX 3
    • 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 2014
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 3006 Leestead Court Spring, TX 5
    • 3 beds 2 baths ∙ 2,188 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,188 Sqft ∙ Built 2010
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jeanette Mcmackin
1.832.655.3770
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 #: 54725500
Last Updated: 03/13/2021
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