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28830 Bosque River Court Spring, TX 77386

3 Beds 2 Baths 1,312 sqft Built 2009

$192,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $146.34
  • 2 Days on Market
  • MLS # : 12961816
  • Updated Date : 12/12/2020 at 13:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Walzel Properties

Listing Agent's Description

Beautiful home at great location. Huge corner lot, granite countertops, brand-new flooring throughout, ceiling fans in every room, NEST thermostat. Covered back patio ready for entertaining. Never flooded. Neighborhood features a tree-shaded park, playground, basketball, volleyball, covered picnic tables, catch and release pond. Minutes away from Grand Parkway, Hardy Toll Rd, Exxon-Mobil headquarters, I-45 and The Woodlands. Highly acclaimed Conroe ISD. Zoned to the new Grand Oaks High School, opening Fall 2018.

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: Creekside Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $77k305k

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

Neighborhood: Creekside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8072063

* 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
Bradley Elementary Primary Unknown NA
York Junior High School Middle Regular 1,002 58 8
Grand Oaks High School High Unknown NA

Bradley Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

York Junior High School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 58
8
GreatSchools Rating

Grand Oaks High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$172,800$211,200$192,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$708
Property Tax -$348
Property Insurance -$103
HOA -$42
Property Management Fees -$99
CASH FLOW
$140

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.

$192,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,630

INVESTMENT

$56,630

Down Payment
$48,000
Rehab Estimate
$5,750
Closing Costs
$2,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$708

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,000
Loan Amount $144,000
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$14,541

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,437

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4503$1,4504$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 28830 Bosque River Court Spring, TX 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.10
    •  
  • 4031 Pedernales River Lane Spring, TX 2
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2009
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 4414 Nueces River Loop Spring, TX 3
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2007
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 28914 W Pecos River Court Spring, TX 4
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2007
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 28807 Bosque River Court Spring, TX 5
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2009
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
PROPERTY LISTING DETAILS
Feng Liu
1.832.798.3299
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 12961816
Last Updated: 12/12/2020
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