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23 Tremont Woods Court The Woodlands, TX 77381

3 Beds 2 Baths 1,513 sqft Built 1982

$254,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $168.47
  • 4 Days on Market
  • MLS # : 49247783
  • Updated Date : 01/01/2021 at 17:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,513 sqft
  • Baths : 2 full
Listing Agent

Re/max Integrity

Listing Agent's Description

Location! Location! Location! This charming home is COMPLETELY renovated and move in ready! Located close to shopping, dining and has quick, easy access to I-45. Home features: wood style tile floors, vinyl double pane windows, fresh paint, granite counters, stainless steel appliances, updated secondary bathrooms, dishwasher (2018), recent roof (2017), and recent water heater (2017). The family room has a full wall of custom wood built-ins, tall ceilings, large windows to allow in natural light and is open to the kitchen! The front porch is the perfect spot to enjoy your morning coffee while relaxing on the hanging swing. Don’t miss the amazing covered, screened in back patio that even has a gas fireplace! Patio has great views of the spacious backyard that is the perfect space for kids and pets to play! Home allows for so much privacy in the backyard since there are NO BACK NEIGHBORS! *Shed in backyard, refrigerator, washer/dryer and TV on back porch ALL stay!*

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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: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k368k

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

Neighborhood: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722236

* 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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$940
Property Tax -$471
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$35

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.

$254,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

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$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,4954$1,6605$1,700
$1,700
RENT COMPS ANALYSIS
  • 23 Tremont Woods Court The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.10
    •  
  • 4 E Brookberry Court The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1981
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
  • 22 Edgewood Forest Court The Woodlands, TX 2
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1982
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 15 Brentwood Oaks Court The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1982
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 23 Fairmeade Bend Drive The Woodlands, TX 5
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1982
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Brandon Baker
1.832.326.4643
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 49247783
Last Updated: 01/01/2021
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