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23 Cedar Chase The Woodlands, TX 77381

3 Beds 3 Baths 2,054 sqft Built 1984

$269,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $130.96
  • 3 Days on Market
  • MLS # : 26565886
  • Updated Date : 01/15/2021 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,054 sqft
  • Baths : 2 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

Cul de sac lot. Bright open contemporary floor plan, Primary down, Living room has soaring ceilings and windows. Raised formal dining room and loft area with builtin bookshelves. 2 bedrooms up. Half bath updated. Recently painted. Private backyard backs to bike path.

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: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723320

* 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
Collins Intermediate School Primary Regular 674 36 10
Collins Intermediate School Middle Regular 674 36 10
The Woodlands College Park High School High Regular 2,794 161 9

Collins Intermediate School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

Collins Intermediate School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$934
Property Tax -$535
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
$196

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$269,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$14,036

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8004$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 23 Cedar Chase The Woodlands, TX 5
    • 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.93
    •  
  • 6 Rockridge Drive The Woodlands, TX 1
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 1985
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 161 Eagle Rock Circle The Woodlands, TX 2
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1988
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 115 Sandpebble Drive The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1985
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 74 W Stony Bridge Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1989
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
PROPERTY LISTING DETAILS
Thomas Mcelmurry
1.832.674.4960
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26565886
Last Updated: 01/15/2021
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