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27 Tapestry Forest Place The Woodlands, TX 77381

3 Beds 3 Baths 2,687 sqft Built 2005

$380,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $141.42
  • 9 Days on Market
  • MLS # : 36300373
  • Updated Date : 10/26/2020 at 22:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,687 sqft
  • Baths : 2 full , 1 half
Listing Agent

Blue J Realty

Listing Agent's Description

Welcome to your new home! Beautiful one-story home located in the popular Woodlands Grogans Forest neighborhood. This three bedroom and two and half bathroom home features many desirable details from easily maintain yards, to a grand entry, tiled floors throughout the home, art niches, and so much more. It showcases an open concept Formal Dining/Kitchen with Breakfast /Living area with plenty of windows for tons of natural lighting. The Primary suite is located off the Living area for a more private and secluded retreat. Primary bathroom opens to a large space with double vanities, garden tub, walk-in shower, and entrance to a closet with easy access to the Laundry room for convenience of putting away clothes. Double entry to your extended outdoor patio for those private moments to enjoy a respite in the early morning or evening on your covered patio.

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: Grogan's Forest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k466k

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

Neighborhood: Grogan's Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10722977

* 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
Lamar Elementary School Primary Regular 713 41 7
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Lamar Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
7
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,402
Property Tax -$730
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
$136

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.

$380,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) -1.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$18,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,606

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5503$2,6004$2,6005$2,850
$2,850
RENT COMPS ANALYSIS
  • 27 Tapestry Forest Place The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.95
    •  
  • 123 Zephyr Bend Place The Woodlands, TX 1
    • 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,554 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 2 S Crescendo Path Place Shenandoah, TX 3
    • 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 2005
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 18 E Tapestry Park Circle The Woodlands, TX 4
    • 3 beds 3 baths ∙ 2,693 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,693 Sqft ∙ Built 2005
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 30 Rymwick Court The Woodlands, TX 5
    • 3 beds 3 baths ∙ 2,786 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,786 Sqft ∙ Built 2002
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
PROPERTY LISTING DETAILS
Rebecca Vera
1.832.889.5007
Blue J Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 36300373
Last Updated: 10/26/2020
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