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2922 Four Pines Drive Houston, TX 77345

4 Beds 3 Baths 2,831 sqft Built 1988

$320,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $113.03
  • 5 Days on Market
  • MLS # : 64919223
  • Updated Date : 01/13/2021 at 12:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,831 sqft
  • Baths : 2 full , 1 half
Listing Agent

Krueger Real Estate

Listing Agent's Description

Beautiful 4BD / 3.5BA home on a corner lot in the desirable Greentree Village. The location has quick access to Highway 59. Features a newly remodeled kitchen with granite counters and upgraded appliances (2019), a desk, plenty of cabinet storage, and a sunny breakfast nook. The den features a gas log fireplace, and the study has stunning french doors and beautiful handcrafted built-ins. There is a primary suite on the first floor and there are three bedrooms and a game room upstairs. The backyard is a private, fenced yard with a sprinkler system and a lagoon style pool that features tropical landscaping! Other upgrades include a new AC (2019), new exterior siding (2020), fresh paint (2020), and a new pool pump (2020). Never Flooded!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Greentree Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k312k

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

Neighborhood: Greentree Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722380

* 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
Greentree Elementary School Primary Regular 760 44 8
Creekwood Middle School Middle Regular 1,094 62 9
Kingwood High School High Regular 2,610 140 9

Greentree Elementary School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 44
8
GreatSchools Rating

Creekwood Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 62
9
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,111
Property Tax -$675
Property Insurance -$219
HOA -$25
Property Management Fees -$99
CASH FLOW
$211

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.

$320,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$17,089

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,350

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3403$2,4004$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 2922 Four Pines Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.83
    •  
  • 4217 Brook Shadow Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 1991
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 5123 Mulberry Grove Drive Houston, TX 3
    • 4 beds 4 baths ∙ 2,926 Sqft ∙ Built 1984 4 beds 4 baths ∙ 2,926 Sqft ∙ Built 1984
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 5110 Sandy Grove Drive Kingwood, TX 4
    • 4 beds 4 baths ∙ 2,965 Sqft ∙ Built 1980 4 beds 4 baths ∙ 2,965 Sqft ∙ Built 1980
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 5118 Timber Shade Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,966 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,966 Sqft ∙ Built 1980
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.86
    •  
PROPERTY LISTING DETAILS
James Krueger
1.713.364.4003
Krueger Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64919223
Last Updated: 01/13/2021
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