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21606 Redcrested Glen Court Spring, TX 77388

4 Beds 4 Baths 2,942 sqft Built 2010

$275,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $93.47
  • 2 Days on Market
  • MLS # : 70289721
  • Updated Date : 01/30/2021 at 10:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,942 sqft
  • Baths : 3 full , 1 half
Listing Agent

Accustar Realty

Listing Agent's Description

GREAT CUL-DE-SAC LOCATION! Beautiful Elevation-Covered Porch + STONE Accents!Delightful Kitchen-Black Appliances + Tile Floor & Backsplash + 42'' Cabinetry! Supersized Family Room-Gas Log Fireplace! FIRST FLOOR MASTER SUITE-Lovely Garden Bath w/Dual Vanities + Walk-In Closet! ENORMOUS GAMEROOM/MEDIA ROOM! Spacious Backyard w/Patio + Manicured Landscape! Zoned A/C + Heat! Klein ISD! Easy Access to FM 2920 + I-45 + Grand Pkwy!

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

Neighborhood: Gosling Pines

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Gosling Pines

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10332063

* 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
Mueller Elementary School Primary Regular 921 57 7
Schindewolf Intermediate School Middle Regular 1,321 78 6
Klein Collins High School High Regular 3,580 201 6

Mueller Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
7
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$955
Property Tax -$647
Property Insurance -$226
HOA -$31
Property Management Fees -$99
CASH FLOW
$91

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.

$275,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.0%
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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0004$2,0505$2,200
$2,200
RENT COMPS ANALYSIS
  • 21606 Redcrested Glen Court Spring, TX 4
    • 4 beds 4 baths ∙ 2,942 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,942 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.70
    •  
  • 6123 Northcrest Village Way Spring, TX 1
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2012
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
  • 5110 Lakota Trail Spring, TX 2
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2013
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.67
    •  
  • 6014 Wilcox Point Court Spring, TX 3
    • 5 beds 4 baths ∙ 2,760 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,760 Sqft ∙ Built 2005
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 21511 Canvasback Glen Court Spring, TX 5
    • 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2012 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2012
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
PROPERTY LISTING DETAILS
Darren White
1.713.817.2842
Accustar Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 70289721
Last Updated: 01/30/2021
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