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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $92.13
- 4 Days on Market
- MLS # : 35426559
- Updated Date : 01/28/2021 at 15:04
CONSTRUCTION
- Beds : 3
- Floor Size : 1,627 sqft
- Baths : 2 full
Listing Agent
Bhgre Gary Greene
Listing Agent's Description
Recently updated, charming 3 bedroom, 2 bathroom, FREE-STANDING patio home in well-established area close to shopping, schools & entertainment. Great split floor plan with spacious living, kitchen and dining rooms. New interior and exterior paint, new trim and crown moulding, new tile flooring in kitchen; (almost all) new windows. A/C replaced 5 years ago and roof replaced 3-4 years ago. Wood-look tile in bedrooms, bathrooms and living room; no carpet in home! Fully fenced backyard with covered porch. Conveniently located with easy access to I-45, Hardy Toll Rd and 99/Grand Parkway; 10 minutes to The Woodlands. Ready to live in or rent. Not a duplex! Great investment opportunity for a turn-key landlord. Schedule your showing today!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Springridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,420 |
| EXPENSES | Loan Payment | -$521 |
| Property Tax | -$382 | |
| Property Insurance | -$137 | |
| HOA | -$15 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$266
|
||
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.
$149,900
PROJECTED PRICE
$1,420
PROJECTED RENT
0.95%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$45,474
LOAN DETAILS
$521
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $37,475 |
| Loan Amount | $112,425 |
9.92
YEARS SAVED
$21,698
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,420
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,562
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
2742 Spring Dusk Lane Spring, TX 1
- 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,420
- $0.87
-
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
-
2830 Spring Dusk Lane Spring, TX 3
- 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1999
LEASED 02/22/20- Rent
- Rent Per SQFT
- $1,500
- $1.00
-
2746 Autumn Springs Lane Spring, TX 4
- 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
-
26115 Cypresswood Drive Spring, TX 5
- 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1999
LEASED 02/07/20- Rent
- Rent Per SQFT
- $1,600
- $0.99
PROPERTY LISTING DETAILS
1.281.221.7223
Bhgre Gary Greene
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 35426559
Last Updated: 01/28/2021
