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23 Cherry Blossom Place The Woodlands, TX 77381

4 Beds 3 Baths 2,576 sqft Built 1992

$399,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $154.89
  • 41 Days on Market
  • MLS # : 94947188
  • Updated Date : 01/07/2021 at 22:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,576 sqft
  • Baths : 2 full , 1 half
Listing Agent

Abby Realty

Listing Agent's Description

Well maintained Cochrans Crossing home in the heart of The Woodlands. The Woodlands is home to the Cynthia Woods Mitchell Pavilion, Market Street & the Waterway where you will find fantastic dining, shopping & entertainment. Enjoy the many recreational opportunities in the area that are available while exploring on the miles of hike & bike trails. Highly rated schools! This beautiful 4-bedroom 2.5 bath 2 car detached garage home in a quiet cul-de-sac that has access to the walking path on Cochrans Crossing, and best of all NO back neighbors!! One unique quality of this property is it has triple YES triple pane Solarban 70XL Low-E Coated windows! Wooden back deck for entertaining! Come see this delightful house which could be your next home. No HOA fees and low taxes! No flooding per owner. Professional pictures/walk-through/virtual walk-through/drone coming soon

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (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
Galatas Elementary School Primary Regular 660 40 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Galatas Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 40
10
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,386
Property Tax -$724
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
$16

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.

$399,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,473

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,375
1$2,3752$2,4003$2,4004$2,5505$2,850
$2,850
RENT COMPS ANALYSIS
  • 23 Cherry Blossom Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 29 Summer Court The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 1991
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.93
    •  
  • 55 E Greywing Circle The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1995
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 6 Bayginger Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1991
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
  • 15 Long Springs Place The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 1998
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ed Butler
1.281.630.3602
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 94947188
Last Updated: 01/07/2021
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