Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

22510 Cutter Mill Drive Spring, TX 77389

4 Beds 3 Baths 2,958 sqft Built 2015

$310,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $104.80
  • 7 Days on Market
  • MLS # : 45461073
  • Updated Date : 02/26/2021 at 17:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,958 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

MULTIPLE OFFERS RECEIVED - NO MORE SHOWINGS!! -Appointment required - Supra Lock Box at front door - leave business card. Absolutely Gorgeous 2-Story, 4 Bedroom, 2.5 Bathrooms - Located in the Prestigious Sawmill Ranch Subdivision. Just minutes from Grand Parkway, I-45, & All the Woodlands has to offer- Community Amenities including Lake, greenbelt, recreation center, walking trails, pond, swimming pools and kids splash pad. Minutes away from the ExxonMobil, Hewlett Packard Enterprise, and South Western Energy, Campuses. Buyer to purchase survey, if one is needed.

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

Zip Code: 77389

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k384k

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

Zip Code: 77389

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10722416

* 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
Zwink Elementary School Primary Unknown NA
Hildebrandt Intermediate School Middle Regular 1,136 69 7
Klein Collins High School High Regular 3,580 201 6

Zwink Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Hildebrandt Intermediate School

  • Education Level: Middle
  • # of students: 1,136
  • # of teachers: 69
7
GreatSchools Rating

Klein Collins High School

  • Education Level: High
  • # of students: 3,580
  • # of teachers: 201
6
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,077
Property Tax -$831
Property Insurance -$227
HOA -$76
Property Management Fees -$99
CASH FLOW
$81

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.

$310,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.8%
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-$6.0k-$4.0k-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,403

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4003$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 22510 Cutter Mill Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,958 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.81
    •  
  • 22019 Flashing Ridge Drive Spring, TX 2
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2014
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 22519 Birch Ridge Meadow Drive Spring, TX 3
    • 4 beds 3 baths ∙ 3,146 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,146 Sqft ∙ Built 2015
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
  • 22635 Cutter Mill Drive Spring, TX 4
    • 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,120 Sqft ∙ Built 2015
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
  • 22014 Meandering Springs Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2013
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Veronica Ricketts
1.713.320.2950
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 45461073
Last Updated: 02/26/2021
BESbswy