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22507 Sweetglen Court Spring, TX 77373

3 Beds 2 Baths 1,740 sqft Built 2006

$204,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $117.76
  • 6 Days on Market
  • MLS # : 66191921
  • Updated Date : 11/24/2020 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full
Listing Agent

Walzel Properties

Listing Agent's Description

Welcome home to this beautiful 3 Bedroom, 2 Bath, with a 2 Car Garage nestled on a cul-de-sac lot in the quiet community of Highland Glen. This Cul-de-sac has a private access to the community trails and beautiful pond! It's a must see! Large Primary bedroom with tub, walk-in shower, and walk-in closet. Luxury vinyl plank floors and tile through out the house (NO CARPET). Patio and large back yard are perfect for family and friends gatherings! Located near the Hardy Toll Rd, and I-45, residents enjoy easy access to The Woodlands and Downtown Houston. Experience all that Old Town Spring has to offer! Call today to book your private showing!

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: Highland Glen

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k270k

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

Neighborhood: Highland Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9101932

* 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
Ginger Mcnabb Elementary School Primary Regular 704 49 3
Twin Creeks Middle School Middle Regular 1,000 63 6
Spring High School High Regular 3,339 173 3

Ginger Mcnabb Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 49
3
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
 

$184,410$225,390$204,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$756
Property Tax -$441
Property Insurance -$145
HOA -$42
Property Management Fees -$99
CASH FLOW
$108

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$204,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) -8.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k

PROJECTED ANNUAL CASH FLOW

11530-$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$50k$100k$150k$200k$250k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,049

INVESTMENT

$60,049

Down Payment
$51,225
Rehab Estimate
$5,750
Closing Costs
$3,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,225
Loan Amount $153,675
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$12,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5754$1,5905$1,635
$1,635
RENT COMPS ANALYSIS
  • 22507 Sweetglen Court Spring, TX 4
    • 3 beds 4 baths ∙ 1,740 Sqft ∙ Built 2006 3 beds 4 baths ∙ 1,740 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.91
    •  
  • 22434 Highfield Ridge Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 2004
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 22543 Sweetglen Court Spring, TX 2
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 1434 Meadowhigh Lane Spring, TX 3
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
  • 22411 Highfield Ridge Lane Spring, TX 5
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2006
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.94
    •  
PROPERTY LISTING DETAILS
Melissa Leal
1.713.454.2333
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 66191921
Last Updated: 11/24/2020
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