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2715 Spring Dusk Lane Spring, TX 77373

4 Beds 3 Baths 1,736 sqft Built 2001

$160,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $92.17
  • 4 Days on Market
  • MLS # : 6789098
  • Updated Date : 11/01/2020 at 15:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,736 sqft
  • Baths : 3 full
Listing Agent

Walzel Properties

Listing Agent's Description

Beautiful 2 story home with 4 bedrooms and 3 full bathrooms. Minutes away from the I-45, 99 HWY, Hardy Toll Rd. Laminate flooring in living room and dining area. Spacious kitchen, open and nicely-sized backyard, next to the park, and plenty of natural light in the house. New garage door and New AC coil. New tile flooring on the bottom floor, new paint on walls, trim and doors, wood flooring on stairs, newly mounted microwave. Never flooded. This is a must see. Call to schedule your private showing today!

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: Springridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $77k270k

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

Neighborhood: Springridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8131932

* 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
 

$144,000$176,000$160,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$590
Property Tax -$408
Property Insurance -$145
HOA -$14
Property Management Fees -$99
CASH FLOW
$285

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.

$160,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.96%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,150

INVESTMENT

$48,150

Down Payment
$40,000
Rehab Estimate
$5,750
Closing Costs
$2,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $40,000
Loan Amount $120,000
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$27,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5004$1,5405$1,595
$1,595
RENT COMPS ANALYSIS
  • 2715 Spring Dusk Lane Spring, TX 4
    • 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.89
    •  
  • 2623 Autumn Springs Lane Spring, TX 1
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1994
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 2627 Autumn Springs Lane Spring, TX 2
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 2619 Autumn Springs Lane Spring, TX 3
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1984
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 2746 Autumn Springs Lane Spring, TX 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2000
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
PROPERTY LISTING DETAILS
Carol Duong
1.832.510.6421
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6789098
Last Updated: 11/01/2020
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