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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $132.89
- 5 Days on Market
- MLS # : 31845359
- Updated Date : 11/20/2020 at 10:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,505 sqft
- Baths : 2 full
Listing Agent
Keller Williams Platinum
Listing Agent's Description
Nestled on a cul-de-sac lot in the quiet community of Spring Trails, this beautiful home boasts high ceilings, wood flooring, a recently replaced 3.5-ton HVAC, and dining room with bay windows. Equipped with granite countertops, a tile backsplash, and breakfast bar, this home is perfect for honing your culinary skills. Find some peace and quiet in the spa-like primary suite, complete with a walk-in closet, dual vanities, a tub, and frameless shower. The patio in the spacious backyard is perfect for entertaining and leisure. Nestled near the Grand Parkway, residents enjoy easy access to The Woodlands and Humble. Community amenities include pools, tennis courts, a multi sports court, and more! Old Town Spring is just a short drive away. Students attend top-rated schools in Conroe ISD, including Grand Oaks High School and Broadway Elementary School. This home is exactly what you’ve been searching for – call today!
SEE MORE
- 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 Trails
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Trails
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,550 |
| EXPENSES | Loan Payment | -$738 |
| Property Tax | -$469 | |
| Property Insurance | -$114 | |
| HOA | -$58 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$72
|
||
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.
$200,000
PROJECTED PRICE
$1,550
PROJECTED RENT
0.78%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 3.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,750
LOAN DETAILS
$738
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $50,000 |
| Loan Amount | $150,000 |
3.5
YEARS SAVED
$7,202
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,550
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$1,550
COMP ESTIMATED VALUE -
$1.03
COMP AVG. RENT PER SQFT
Comps Range
-
2438 Keegan Hollow Lane Spring, TX 2
- 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005
![property image]()
- Rent
- Rent Per SQFT
- $1,550
- $1.03
-
2439 Morgan Ridge Lane Spring, TX 1
- 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2006
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LEASED 01/01/20- Rent
- Rent Per SQFT
- $1,550
- $0.98
-
2323 Keegan Hollow Lane Spring, TX 3
- 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2006
![property image]()
LEASED 08/20/20- Rent
- Rent Per SQFT
- $1,600
- $1.08
-
2338 Morgan Ridge Ln Spring, TX 4
- 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006
![property image]()
LEASED 03/22/20- Rent
- Rent Per SQFT
- $1,650
- $1.00
-
2419 Morgan Ridge Lane Spring, TX 5
- 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,657 Sqft ∙ Built 2006
![property image]()
LEASED 09/15/20- Rent
- Rent Per SQFT
- $1,750
- $1.06
PROPERTY LISTING DETAILS
1.281.861.4624
Keller Williams Platinum
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 31845359
Last Updated: 11/20/2020
