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235 E Rainbow Ridge Circle The Woodlands, TX 77381

4 Beds 3 Baths 2,470 sqft Built 1985

$295,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $119.43
  • 4 Days on Market
  • MLS # : 26663700
  • Updated Date : 11/14/2020 at 10:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,470 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

No back yard neighbors here! This wonderful 4 bedroom home is centrally located in The Woodlands. Kitchen has been updated with granite countertops and stainless steel appliances. This home has a bonus with two living areas on the first floor and a study area on the second floor. Home backs up to a greenbelt and Shadowbend Park is beyond the greenbelt. Roof was replaced in 2018, water heater in 2019 and the carpet was replaced in 2020. Garage door was also replaced in 2020. This home has many extras and the location is ideal, schedule your showing today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (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
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
 

$265,500$324,500$295,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,088
Property Tax -$587
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
$346

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.

$295,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.78%

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

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,881

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,291

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,2953$2,3004$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 235 E Rainbow Ridge Circle The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.93
    •  
  • 9 Kearny Brook Place The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1988
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.88
    •  
  • 19 Kearny Brook Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 5 Otter Pond Place Spring, TX 4
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1989
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.99
    •  
  • 89 W Rainbow Ridge Circle The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,413 Sqft ∙ Built 1986
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
PROPERTY LISTING DETAILS
Diane Flicker
1.281.381.7738
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26663700
Last Updated: 11/14/2020
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