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2206 Rolling Glen Drive Spring, TX 77373

4 Beds 2 Baths 1,771 sqft Built 1983

$183,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $103.33
  • 3 Days on Market
  • MLS # : 33867610
  • Updated Date : 01/09/2021 at 14:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Executive Texas Realty

Listing Agent's Description

This Lexington Woods North upgraded home is perfectly located near Grand Parkway (2mi), I-45 (2.5 mi) and the Hardy toll rd (0.5mi)! Subdivision offers a clubhouse and a community swimming pool, plus walking distance from walking trails too! Close to Old Town Spring where antique stores and restaurants await. One story home has a large multi-functional room which could be used as a Media room, a Game room or a formal Dining room. New roof in 2018 with a transferable warranty, plus lots of upgrades. Fully fenced in back yard with patio. Lexington Woods North zoned for Spring ISD.

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: Lexington Woods North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $101k270k

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

Neighborhood: Lexington Woods North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9021932

* 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
John Winship Elementary School Primary Regular 521 35 5
Twin Creeks Middle School Middle Regular 1,000 63 6
Spring High School High Regular 3,339 173 3

John Winship Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 35
5
GreatSchools Rating

Twin Creeks Middle School

  • Education Level: Middle
  • # of students: 1,000
  • # of teachers: 63
6
GreatSchools Rating

Spring High School

  • Education Level: High
  • # of students: 3,339
  • # of teachers: 173
3
GreatSchools Rating
 

$164,700$201,300$183,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$636
Property Tax -$387
Property Insurance -$147
HOA -$33
Property Management Fees -$99
CASH FLOW
$209

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.

$183,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$54,245

INVESTMENT

$54,245

Down Payment
$45,750
Rehab Estimate
$5,750
Closing Costs
$2,745

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$636

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,750
Loan Amount $137,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$16,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,3954$1,5005$1,510
$1,510
RENT COMPS ANALYSIS
  • 2206 Rolling Glen Drive Spring, TX 5
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.85
    •  
  • 2303 Lexington Woods Drive Spring, TX 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.86
    •  
  • 25519 Stone Mill Lane Spring, TX 2
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1971
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.77
    •  
  • 2118 Knollbrook Lane Spring, TX 3
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1982
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 25515 Pepper Ridge Lane Spring, TX 4
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1978
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Rolanda Lacy
1.832.732.4783
Executive Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 33867610
Last Updated: 01/09/2021
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