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21342 Bishops Mill Court Kingwood, TX 77339

4 Beds 3 Baths 2,866 sqft Built 2013

$265,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $92.46
  • 2 Days on Market
  • MLS # : 32559348
  • Updated Date : 03/13/2021 at 17:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,866 sqft
  • Baths : 2 full , 1 half
Listing Agent

Designed Realty Group

Listing Agent's Description

Gorgeous Gehan home located at the end of a cul de sac in highly sought after Kings Mill! Stone accents provide for beautiful curb appeal! This home has a FABULOUS floor plan that all families will enjoy! FRESH interior paint throughout home and it is light and bright! Formal dining room OR office area as you enter the home; spacious family room with wall of windows back yard view and gas log fireplace. Kitchen has an island, breakfast bar and walk in panty and it is open to the family room; very large breakfast room! ALL BEDROOMS ARE UPSTAIRS! Owner's retreat is very spacious and features a spa like bath, large walk in closet and tons of storage; all 3 secondary bedrooms are spacious; game room as you enter will be great for the entire family to use! Outside you will find a covered patio and back yard space for kiddos and fur babies.

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: 77339

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77339

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Kings Manor Elementary School Primary Regular 649 39 7
Woodridge Forest Middle School Middle Unknown NA
Porter High School High Regular 1,677 118 4

Kings Manor Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 39
7
GreatSchools Rating

Woodridge Forest Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Porter High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 118
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$920
Property Tax -$771
Property Insurance -$193
HOA -$50
Property Management Fees -$99
CASH FLOW
$127

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.

$265,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.7%
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$700k$800k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1604$2,3955$2,800
$2,800
RENT COMPS ANALYSIS
  • 21342 Bishops Mill Court Kingwood, TX 3
    • 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.75
    •  
  • 26887 Castlecliff Lane Kingwood, TX 1
    • 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 1999
    LEASED 03/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 21347 S Kings Mill Lane Kingwood, TX 2
    • 5 beds 3 baths ∙ 2,810 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,810 Sqft ∙ Built 2013
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 22109 Iron Knoll Drive Humble, TX 4
    • 3 beds 2 baths ∙ 2,890 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,890 Sqft ∙ Built 2004
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
  • 21839 Maidens Crossing Drive Kingwood, TX 5
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2003
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Judith Hayes
1.281.881.0840
Designed Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32559348
Last Updated: 03/13/2021
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