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2907 Autumn Creek Drive Friendswood, TX 77546

4 Beds 3 Baths 2,932 sqft Built 2001

$339,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $115.62
  • 4 Days on Market
  • MLS # : 36209016
  • Updated Date : 12/24/2020 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,932 sqft
  • Baths : 2 full , 1 half
Listing Agent

W Realty & Investment Group

Listing Agent's Description

MOVE-IN READY. Well maintained open concept two story home with 4 bedrooms and 2-1/2 bathrooms in conveniently located growing neighborhood, Autumn Creek. Minutes away from I-45 and major retail/wholesale shops including Costco, Baybrook mall, etc. Need a home office? This home has it. The home features Study/Library, Formal Dinning, Breakfast, Spacious Family/Living Room and Game Room. Numerous updates throughout. Roof, carpet, laminates, a garage door, water heater and kitchen appliances are only about 3 years old. Fences (on the house side) were replaced in 2016. Primary bathroom and 2nd floor full bathroom are completely updated only a couple of months ago. New tiles in Utility. New fresh paint in and out. New storm door and patio door. New gutters. The list goes on. Carpets and all hard floors were deep cleaned lately. Come see for yourself!!

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: Autumn Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k376k

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

Neighborhood: Autumn Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10722865

* 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
Landolt Elementary School Primary Regular 905 54 8
Brookside Intermediate School Middle Regular 802 51 5
Clear Springs High School High Regular 2,463 146 8

Landolt Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 54
8
GreatSchools Rating

Brookside Intermediate School

  • Education Level: Middle
  • # of students: 802
  • # of teachers: 51
5
GreatSchools Rating

Clear Springs High School

  • Education Level: High
  • # of students: 2,463
  • # of teachers: 146
8
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,251
Property Tax -$725
Property Insurance -$225
HOA -$48
Property Management Fees -$99
CASH FLOW
$132

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.

$339,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.7%
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$900k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$14,222

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,492

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3504$2,4805$2,600
$2,600
RENT COMPS ANALYSIS
  • 2907 Autumn Creek Drive Friendswood, TX 4
    • 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.85
    •  
  • 3541 Firenze Drive Friendswood, TX 1
    • 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 2014
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 3516 Cortona Lane Friendswood, TX 2
    • 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2009
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 3506 Silouette Cove Friendswood, TX 3
    • 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 2001
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.89
    •  
  • 3116 Red Maple Drive Friendswood, TX 5
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2002
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kyoungtae Lee
1.281.412.9795
W Realty & Investment Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 36209016
Last Updated: 12/24/2020
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