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23 Howell Creek Place The Woodlands, TX 77382

4 Beds 4 Baths 2,951 sqft Built 1997

$399,900

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $135.51
  • 4 Days on Market
  • MLS # : 82264451
  • Updated Date : 03/05/2021 at 17:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,951 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

What a fantastic opportunity to put your own stamp on this lovely Lifeforms "Heritage" plan located in the popular "candy cane" neighborhood of Bethany Bend. This home offers a traditional formal dining and formal living room which could easily be converted to a home office with privacy for those who work from home. With the primary bedroom on the first floor, game room upstairs, tandem garage pre-plumbed for a sink, 3.5 bathrooms, on a cul-de-sac street near the neighborhood park, and zoned to Buckalew Elementary. This home has lots of crown molding, a spacious utility room, gas or electric cooking on the large kitchen island, lots of cabinet storage and counter work space, is very open to the family room, and checks most of the boxes, but not all. There is some room to fit a pool.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722322

* 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
Buckalew Elementary School Primary Regular 698 39 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Buckalew Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 39
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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$1,389
Property Tax -$795
Property Insurance -$197
Property Management Fees -$99
CASH FLOW
$369

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.

$399,900

PROJECTED PRICE

$2,850

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$32,615

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $3,054

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,8504$2,8505$3,500
$3,500
RENT COMPS ANALYSIS
  • 23 Howell Creek Place The Woodlands, TX 4
    • 4 beds 4 baths ∙ 2,951 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,951 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.97
    •  
  • 39 Larks Aire Place The Woodlands, TX 1
    • 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 1994
    property image
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
  • 23 Rockledge Drive The Woodlands, TX 2
    • 3 beds 4 baths ∙ 2,873 Sqft ∙ Built 2000 3 beds 4 baths ∙ 2,873 Sqft ∙ Built 2000
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
  • 15 Long Springs Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 1998
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.06
    •  
  • 27 Bethany Bend Drive The Woodlands, TX 5
    • 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,096 Sqft ∙ Built 1998
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.13
    •  
PROPERTY LISTING DETAILS
Rebecca Drake
1.713.203.3209
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82264451
Last Updated: 03/05/2021
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