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23327 Sawmill Pass Spring, TX 77373

4 Beds 2 Baths 1,845 sqft Built 2016

$210,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $113.82
  • 3 Days on Market
  • MLS # : 40513569
  • Updated Date : 02/06/2021 at 17:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,845 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Beautiful one story, 4 bedroom, 2 bath, 2 car attached garage in a fantastic location of Breckenridge Forest subdivision! Home has large open floorplan, gorgeous granite countertops, kitchen island w/breakfast bar, stainless steel appliances, ceramic tile in bathrooms, double sinks and nice sized walk in shower with separate tub in master bath. Step outside in the backyard to a covered patio and large back yard to have barbecues with friends and family. Just minutes from 45 and Hardy Toll Rd, area shopping and dining. This one wont last long! Schedule your appointment today!

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: Spring

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k270k

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

Neighborhood: Spring

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9421932

* 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
Gloria Marshall Elementary School Primary Regular 704 42 NA
Rickey C. Bailey Middle School Middle Regular 1,238 72 4
Spring High School High Regular 3,339 173 3

Gloria Marshall Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 42
NA
GreatSchools Rating

Rickey C. Bailey Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 72
4
GreatSchools Rating

Spring High School

  • Education Level: High
  • # of students: 3,339
  • # of teachers: 173
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$729
Property Tax -$536
Property Insurance -$152
HOA -$33
Property Management Fees -$99
CASH FLOW
$71

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.

$210,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$5,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6204$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 23327 Sawmill Pass Spring, TX 3
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 23314 Brat Pass Drive Spring, TX 1
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 2016
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 23314 Dukes Run Drive Spring, TX 2
    • 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 2016
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 23338 Joy Ridge Drive Spring, TX 4
    • 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,970 Sqft ∙ Built 2017
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 23311 Brat Pass Drive Spring, TX 5
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2016
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Sarah Cruse
1.281.908.6421
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 #: 40513569
Last Updated: 02/06/2021
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