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23 Thicket Grove Place The Woodlands, TX 77385

4 Beds 3 Baths 2,527 sqft Built 2004

$269,950

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $106.83
  • 2 Days on Market
  • MLS # : 30996555
  • Updated Date : 03/13/2021 at 13:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,527 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Location, location, location!! 2-Story, 4 bedrooms, 2.5 bath, 2 car-garage family home built by Lennar located in highly sough-after community of Harpers Landing. Beautifully remodeled including the kitchen & all bathrooms! New flooring & carpet and fresh paint. All bedroom are upstairs, living room opens to the breakfast room & kitchen with counter height bar. Walk-in food pantry & large under the stairs closet ideal for storage. Neutral paint tones throughout and plenty of windows allowing for the natural light Light. Oversized back yard with covered back patio, room for a pool and still plenty of room to play! Residents will enjoy Harpers Landing Park with refreshing huge pool, playground, lighted basketball & tennis courts plus more! Zoned to Woodlands Schools,, EZ access to all major highways and amenities The Woodlands has to offer. Don't miss this opportunity , priced to sell

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: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8932063

* 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
Powell Elementary School Primary Regular 807 44 9
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Powell Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 44
9
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

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

$242,955$296,945$269,950

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$938
Property Tax -$566
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
$384

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.

$269,950

PROJECTED PRICE

$2,160

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$77,287

INVESTMENT

$77,287

Down Payment
$67,488
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,488
Loan Amount $202,463
See What Happens When You Reinvest Cash Flow

8.92

YEARS SAVED

$33,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,161

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1003$2,1604$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 23 Thicket Grove Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,527 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.85
    •  
  • 42 Bowie Bend Court The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2005
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.85
    •  
  • 74 N Misty Canyon Place Conroe, TX 2
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2001
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 159 N Wimberly Way Conroe, TX 4
    • 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 1999
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 75 N Misty Canyon Place The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2001
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lori Van Joslin
1.713.823.3608
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 30996555
Last Updated: 03/13/2021
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