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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Kings Manor
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,725
LOAN DETAILS
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
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
-
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
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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
1.281.610.0430
Coldwell Banker Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 79105614
Last Updated: 11/05/2020
