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2438 Keegan Hollow Lane Spring, TX 77386

3 Beds 2 Baths 1,505 sqft Built 2005

$200,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
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!

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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 Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k314k

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

Neighborhood: Spring Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722096

* 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
Broadway Elementary School Primary Regular 974 55 9
Cox Intermediate School Middle Regular 1,093 60 9
Grand Oaks High School High Unknown NA

Broadway Elementary School

  • Education Level: Primary
  • # of students: 974
  • # of teachers: 55
9
GreatSchools Rating

Cox Intermediate School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 60
9
GreatSchools Rating

Grand Oaks High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

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
$1,550
1$1,5502$1,5503$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 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
    property image
    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
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31845359
Last Updated: 11/20/2020
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