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22806 Red Leo Lane Spring, TX 77389

3 Beds 3 Baths 1,650 sqft Built 2004

$144,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $87.82
  • 2 Days on Market
  • MLS # : 31773086
  • Updated Date : 11/14/2020 at 15:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

A'lon Realty Co.

Listing Agent's Description

PRICED TO SELL! Sold as is! Bring your creative mind and you won't be disappointed! This home is a fixer upper. This comfy, 1650sqft 3 bedroom 2 bathroom with an office, has a spacious living area, and kitchen/breakfast area.

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: Fox Hollow South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k270k

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

Neighborhood: Fox Hollow South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8741932

* 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 919 58 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: 919
  • # of teachers: 58
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
 

$130,410$159,390$144,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$535
Property Tax -$396
Property Insurance -$139
HOA -$24
Property Management Fees -$99
CASH FLOW
$197

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.

$144,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.96%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.8%
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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$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$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,149

INVESTMENT

$44,149

Down Payment
$36,225
Rehab Estimate
$5,750
Closing Costs
$2,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$535

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,225
Loan Amount $108,675
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$18,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,473

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3903$1,4254$1,5145$1,600
$1,600
RENT COMPS ANALYSIS
  • 22806 Red Leo Lane Spring, TX 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.84
    •  
  • 22955 Red Leo Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1984
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.93
    •  
  • 22819 Cabanna Road Spring, TX 3
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
  • 22815 Sherioaks Lane Spring, TX 4
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2005
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,514
    • $0.85
    •  
  • 22930 Sugar Bear Drive Spring, TX 5
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1999
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Rachele Jones
1.713.545.0058
A'lon Realty Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31773086
Last Updated: 11/14/2020
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