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2503 Gwenfair Drive Spring, TX 77373

4 Beds 3 Baths 2,435 sqft Built 2005

$199,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $82.09
  • 3 Days on Market
  • MLS # : 17564579
  • Updated Date : 01/29/2021 at 16:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,435 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Ally Real Estate Group,

Listing Agent's Description

Don't miss out on this wonderful opportunity in Spring! Absolutely stunning 4 Bedroom, 2 Bath on a corner lot with impeccable attention to detail. Delightful community with a governing HOA that works alongside owners to preserve the integrity of the neighborhood. Light and Bright color and upgrades found throughout. Home comes with a Stainless Steel package (Refrigerator, Stove, Dishwasher). Don't miss out this amazing opportunity!!

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: Park Spring

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k270k

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

Neighborhood: Park Spring

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9031932

* 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
John Winship Elementary School Primary Regular 521 35 5
Twin Creeks Middle School Middle Regular 1,000 63 6
Spring High School High Regular 3,339 173 3

John Winship Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 35
5
GreatSchools Rating

Twin Creeks Middle School

  • Education Level: Middle
  • # of students: 1,000
  • # of teachers: 63
6
GreatSchools Rating

Spring High School

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

$179,910$219,890$199,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$694
Property Tax -$550
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
$65

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$199,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$5,995

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6003$1,6504$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 2503 Gwenfair Drive Spring, TX 2
    • 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.66
    •  
  • 23902 Spring Way Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2000
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.66
    •  
  • 23503 Whispering Maple Drive Spring, TX 3
    • 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,557 Sqft ∙ Built 2007
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 24219 Stargazer Point Spring, TX 4
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2007
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.63
    •  
  • 2210 Two Trail Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2006
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.69
    •  
PROPERTY LISTING DETAILS
Linda Henegar
1.832.584.4922
Texas Ally Real Estate Group,
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 17564579
Last Updated: 01/29/2021
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