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22519 Sweetglen Court Spring, TX 77373

3 Beds 3 Baths 2,069 sqft Built 2006

$194,500

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $94.01
  • 11 Days on Market
  • MLS # : 62291419
  • Updated Date : 01/28/2021 at 09:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,069 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dlr Properties, Inc.

Listing Agent's Description

Beautiful spacious 2 story home located in Highland Glen with Fishing pond steps away and a short walk to Walking trails. Area has pavillion and playground for your enjoyment. Foyer opens to large Living area with ceramic tile throughout 1st floor. Living area includes in ceilng speakers and high ceilings. Half bath down stairs and laundry room. Kitchen has granite countertops and stainless steel appliances. Primary bedroom includes access to en-suite bath with soaking tub and standup shower. Upstairs has 3 bedrooms and gameroom. Full bath upstairs. Backyard includes covered patio and no back neighbors.

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
 

$175,050$213,950$194,500

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$676
Property Tax -$535
Property Insurance -$167
HOA -$54
Property Management Fees -$99
CASH FLOW
$69

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.

$194,500

PROJECTED PRICE

$1,600

PROJECTED RENT

0.82%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$57,293

INVESTMENT

$57,293

Down Payment
$48,625
Rehab Estimate
$5,750
Closing Costs
$2,918

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$676

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,625
Loan Amount $145,875
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$5,794

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6003$1,6754$1,6755$1,781
$1,781
RENT COMPS ANALYSIS
  • 22519 Sweetglen Court Spring, TX 2
    • 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 1411 High Thicket Court Spring, TX 1
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.80
    •  
  • 22619 Sunset Glen Lane Spring, TX 3
    • 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,996 Sqft ∙ Built 2005
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 322 Wild Bird Drive Spring, TX 4
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 2005
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
  • 2119 Dalton Park Ct Spring, TX 5
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2013
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,781
    • $0.89
    •  
PROPERTY LISTING DETAILS
Veronica Erebia
1.713.339.0838
Dlr Properties, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62291419
Last Updated: 01/28/2021
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