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21315 Pepperberry Trail Spring, TX 77388

3 Beds 2 Baths 1,563 sqft Built 2003

$195,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $124.76
  • 3 Days on Market
  • MLS # : 59171929
  • Updated Date : 11/06/2020 at 15:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,563 sqft
  • Baths : 2 full
Listing Agent

Re/max Grand

Listing Agent's Description

3/2/2 Light and bright with lots of windows. Tile in all wet areas Spacious Den with gas log fireplace, Master bedroom with seperate garden tub and shower, double sink vanity. Large open kitchen with lots of counter space and storage space. No neighbors in back. Storage shed in back. SPRINKLER SYSTEM! This neighborhood is very close and friendly. The sidewalks allow children to ride their bikes safely. This culdesac is amazingly quiet. THIS AREA IS VERY POPULAR, close to everything with great schools!! ROOF ONLY 2 yrs old. Call for your private showing today. Brand new hard flooring installed in living room. New pics to come. Pre-engineered hardwoods.

SEE MORE

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
Kreinhop Elementary School Primary Regular 881 58 6
Schindewolf Intermediate School Middle Regular 1,321 78 6
Klein Collins High School High Regular 3,580 201 6

Kreinhop Elementary School

  • Education Level: Primary
  • # of students: 881
  • # of teachers: 58
6
GreatSchools Rating

Schindewolf Intermediate School

  • Education Level: Middle
  • # of students: 1,321
  • # of teachers: 78
6
GreatSchools Rating

Klein Collins High School

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

$175,500$214,500$195,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$719
Property Tax -$394
Property Insurance -$133
HOA -$33
Property Management Fees -$99
CASH FLOW
$142

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.

$195,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.78%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,520

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5503$1,5954$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 21315 Pepperberry Trail Spring, TX 1
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.97
    •  
  • 2306 Floral Ridge Drive Spring, TX 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2002
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 21143 Covington Bridge Drive Spring, TX 3
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2002
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
  • 3206 Eaglestone Court Spring, TX 4
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2002
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 21306 Greenham Drive Spring, TX 5
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1991
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Yavon Shaw-cooper
Re/max Grand
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 59171929
Last Updated: 11/06/2020
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