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21214 Heathwood Brook Lane Spring, TX 77379

3 Beds 3 Baths 2,874 sqft Built 2005

$240,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $83.51
  • 4 Days on Market
  • MLS # : 43537034
  • Updated Date : 12/31/2020 at 17:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,874 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Prominent Realty, Inc.

Listing Agent's Description

Location Location Location...Awesome 2005 Two-story home on an 11,650+ Sq. Ft. Cul-De-Sac Lot with a large backyard, A 2,874. sq,.ft. home that features 3 Large Bedroom, 2 full Bath, 1/2 bath, Spacious open-concept Kitchen with lots of counter-space, storage drawers and open to the family room. With low tax rate and centrally located to all your shopping needs, this home also offers a less than 1 year old Roof a 12X12 Backyard Shed, Covered Front and backyard porch and beautifully landscaped. Beautiful wood floors and much more, Must come see this home to appreciate it.

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: Springbrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Springbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10192063

* 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
Benignus Elementary School Primary Regular 943 56 8
Krimmel Intermediate School Middle Regular 1,229 72 7
Klein Oak High School High Regular 3,883 230 7

Benignus Elementary School

  • Education Level: Primary
  • # of students: 943
  • # of teachers: 56
8
GreatSchools Rating

Krimmel Intermediate School

  • Education Level: Middle
  • # of students: 1,229
  • # of teachers: 72
7
GreatSchools Rating

Klein Oak High School

  • Education Level: High
  • # of students: 3,883
  • # of teachers: 230
7
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$886
Property Tax -$565
Property Insurance -$221
HOA -$26
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.

$240,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 21214 Heathwood Brook Lane Spring, TX 3
    • 3 beds 3 baths ∙ 2,874 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,874 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.64
    •  
  • 20931 Kenna Cove Lane Spring, TX 1
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2003
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.61
    •  
  • 21327 Bella Flora Court Spring, TX 2
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2007
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.67
    •  
  • 6615 Serrano Hill Lane Spring, TX 4
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
  • 6603 Lindale Manor Court Spring, TX 5
    • 4 beds 3 baths ∙ 2,861 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,861 Sqft ∙ Built 2007
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
PROPERTY LISTING DETAILS
Efren Hernandez
1.832.444.0683
Texas Prominent Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 43537034
Last Updated: 12/31/2020
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