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2355 Turnbury Elm Court Spring, TX 77386

3 Beds 2 Baths 1,795 sqft Built 2006

$195,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $108.64
  • 3 Days on Market
  • MLS # : 54110392
  • Updated Date : 02/26/2021 at 12:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full
Listing Agent

Gulf-tex Management, Inc

Listing Agent's Description

3/2/2 WITH LARGE KITCHEN,BREAKFAST ROOM AND DINING ROOM - - MASTER BATH WITH TUB AND SHOWER - KITCHEN WITH STAINLESS STEEL APPLIANCES - TILE FLOOR AND BACK SPLASH - BREAKFAST ROOM WITH BAY WINDOW - LOTS OF ATTIC STORAGE SPACE - LOCATED CLOSE TO I-45, HARDY TOLL RD AND GRAND PARKWAY - FRESHLY PAINTED AND CARPETS REPLACED - DISH WASHER REPLACED - CONROE ISD

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

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10132063

* 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
Ford Elementary School Primary Regular 991 58 6
Gerald D Irons Jr High School Middle Unknown 1,102 70 NA
Oak Ridge High School High Regular 3,637 202 8

Ford Elementary School

  • Education Level: Primary
  • # of students: 991
  • # of teachers: 58
6
GreatSchools Rating

Gerald D Irons Jr High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 70
NA
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$175,500$214,500$195,000

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 -$677
Property Tax -$490
Property Insurance -$131
HOA -$34
Property Management Fees -$99
CASH FLOW
$189

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.

$195,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$13,295

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
  • $0.9

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6203$1,7004$1,7005$1,900
$1,900
RENT COMPS ANALYSIS
  • 2355 Turnbury Elm Court Spring, TX 2
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.90
    •  
  • 2526 Fox River Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 2615 Elm Crossing Trail Spring, TX 3
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2014
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 2586 Magnolia Fair Way Spring, TX 4
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2015
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 29415 Ridge Clearing Trail Spring, TX 5
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2018
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
PROPERTY LISTING DETAILS
Henri Lenaerts
1.713.553.4292
Gulf-tex Management, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 54110392
Last Updated: 02/26/2021
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