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22104 Knights Cove Drive Kingwood, TX 77339

4 Beds 2 Baths 2,034 sqft Built 2004

$215,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $105.70
  • 4 Days on Market
  • MLS # : 79105614
  • Updated Date : 11/05/2020 at 13:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,034 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Very popular Perry 1-story, 4 bedroom plan built in the quiet Kings Manor neighborhood in the front of Kingwood's ''Livable Forest." The home backs up to reserve area for extra privacy & has never flooded. It is approx 5 mil away from Lake Houston, yet fun/recreation on the lake and a pool/club house and golf are less than 5 mi away. Home has a number of original upgrades including a front porch, extended diagonal ceramic tile flooring in foyer, family living area and kitchen backsplash. Primary suite has upgraded 2 sinks as well as separate shower & garden tub. Private backyard with view from living room. 3 of 4 bedrooms have walk in closets. Current owners upgraded to a 5 burner gas stove as well as other kitchen appliances, upgraded to brushed nickel finishes throughout the house, extended the back patio to 12 X 12, added additional attic space above the garage, freshly painted the interior throughout the entire house and just refurbished the primary master shower.

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: Kings Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Kings Manor

NeighborhoodNIR 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 671 46 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: 671
  • # of teachers: 46
NA
GreatSchools Rating

Porter High School

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

$193,500$236,500$215,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$793
Property Tax -$556
Property Insurance -$145
HOA -$35
Property Management Fees -$99
CASH FLOW
$72

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.

$215,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.0%
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

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,7954$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 22104 Knights Cove Drive Kingwood, TX 2
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 22052 Knights Cove Drive Kingwood, TX 1
    • 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 2003
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 21817 Maidens Crossing Drive Kingwood, TX 3
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2003
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 26844 Kings Crescent Drive Kingwood, TX 4
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 2003
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 26873 Armor Oaks Drive Kingwood, TX 5
    • 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
PROPERTY LISTING DETAILS
Janna Marks
1.281.610.0430
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 79105614
Last Updated: 11/05/2020
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