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26920 Carriage Manor Lane Kingwood, TX 77339

3 Beds 2 Baths 2,440 sqft Built 2005

$244,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $100.37
  • 3 Days on Market
  • MLS # : 65042507
  • Updated Date : 01/08/2021 at 15:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,440 sqft
  • Baths : 2 full
Listing Agent

Rentlife Property Management

Listing Agent's Description

Professional photos coming soon! Beautiful 3 bedroom home in the King's Manor neighborhood! Very spacious and loaded with upgrades including laminate flooring, stainless appliances, and bronze accents throughout. Easy access to US-59/ I-69. This home will not last. Call for a private showing today! *Room sizes are approximate. Please verify if important.*

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Kings Manor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Kings Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Kings Manor Elementary School Primary Regular 649 39 7
Woodridge Forest Middle School Middle Unknown 671 46 NA
Porter High School High Regular 1,677 118 4

Kings Manor Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 39
7
GreatSchools Rating

Woodridge Forest Middle School

  • Education Level: Middle
  • # of students: 671
  • # of teachers: 46
NA
GreatSchools Rating

Porter High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 118
4
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$851
Property Tax -$635
Property Insurance -$192
HOA -$35
Property Management Fees -$99
CASH FLOW
$78

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.

$244,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.0%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8503$1,8904$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 26920 Carriage Manor Lane Kingwood, TX 3
    • 3 beds 2 baths ∙ 2,440 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,440 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.77
    •  
  • 22872 Lantern Hills Drive Kingwood, TX 1
    • 3 beds 3 baths ∙ 2,270 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,270 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 22880 Lantern Hills Drive Kingwood, TX 2
    • 3 beds 3 baths ∙ 2,275 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,275 Sqft ∙ Built 2004
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 21495 Rose Mill Drive Kingwood, TX 4
    • 4 beds 2 baths ∙ 2,321 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,321 Sqft ∙ Built 2010
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 26882 Treasures Ridge Drive Kingwood, TX 5
    • 3 beds 4 baths ∙ 2,436 Sqft ∙ Built 2006 3 beds 4 baths ∙ 2,436 Sqft ∙ Built 2006
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Nicholas Settle
1.832.458.6058
Rentlife Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 65042507
Last Updated: 01/08/2021
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