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2622 Spring Bend Drive Spring, TX 77386

4 Beds 3 Baths 2,689 sqft Built 1998

$284,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $105.95
  • 5 Days on Market
  • MLS # : 4900235
  • Updated Date : 02/24/2021 at 14:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,689 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome home to the sought-after Spring Creek Pines Community! This immaculate 4 bedroom, 2.5 bathroom 2 story open floor plan home with game room is conveniently located near I-45, 99 and the Woodlands TX. Ready to move in & dressed to impress, this gorgeous home features high-end finishes, and architectural details throughout. Formal living & dining space greets you when you walk in, perfect for get togethers of any size! Spacious living room with consistent wood-look-laminate flooring offers large windows overlooking the backyard that allow in plenty of natural light. Gourmet kitchen features plenty of counter & cabinet space along with beautiful stainless steel appliances. A relaxing master suite is complete w/ a large glass shower & double sinks. Zoned to highly rated Conroe ISD schools. Best of all, home DID NOT FLOOD! Call today for a private showing!

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: North Spring

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k270k

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

Neighborhood: North Spring

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8421932

* 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
Smith Elementary School Primary Regular 602 44 6
Rickey C. Bailey Middle School Middle Regular 1,238 72 4
Spring High School High Regular 3,339 173 3

Smith Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 44
6
GreatSchools Rating

Rickey C. Bailey Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 72
4
GreatSchools Rating

Spring High School

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

$256,410$313,390$284,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$990
Property Tax -$563
Property Insurance -$182
HOA -$40
Property Management Fees -$99
CASH FLOW
$36

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.

$284,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9004$1,9105$2,000
$2,000
RENT COMPS ANALYSIS
  • 2622 Spring Bend Drive Spring, TX 4
    • 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.71
    •  
  • 2210 Two Trail Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 2006
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.69
    •  
  • 3106 Pathfinders Pass Spring, TX 2
    • 4 beds 4 baths ∙ 2,776 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,776 Sqft ∙ Built 2008
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 23307 Joyful Way Spring, TX 3
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2017
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 3411 Dryer Park Drive Spring, TX 5
    • 3 beds 4 baths ∙ 2,803 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,803 Sqft ∙ Built 2014
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
PROPERTY LISTING DETAILS
Carol Hearn
1.281.728.6315
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 #: 4900235
Last Updated: 02/24/2021
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