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29334 Turnbury Village Drive Spring, TX 77386

3 Beds 2 Baths 1,795 sqft Built 2008

$205,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $114.21
  • 2 Days on Market
  • MLS # : 56064854
  • Updated Date : 02/27/2021 at 19:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Easy access to I-45, Grand Parkway, The Woodlands, lots of shopping and Exxon Mobil Campus. This roomy 1 story is ready to be loved in! Kitchen has a lovely separate breakfast room and a formal dining room that can easily be an at home office. the kitchen is open to the very spacious family room that allows for lots of people to gather and relax. Nice sized closets add to the desirability of this home! Washer, dryer and refrigerator are included. This house is ready for you to move in! See it soon!!

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

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10132063

* 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
Ford Elementary School Primary Regular 991 58 6
Gerald D Irons Jr High School Middle Unknown 1,102 70 NA
Oak Ridge High School High Regular 3,637 202 8

Ford Elementary School

  • Education Level: Primary
  • # of students: 991
  • # of teachers: 58
6
GreatSchools Rating

Gerald D Irons Jr High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 70
NA
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$712
Property Tax -$515
Property Insurance -$131
HOA -$34
Property Management Fees -$99
CASH FLOW
$180

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.

$205,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.81%

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$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$12,702

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6704$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 29334 Turnbury Village Drive Spring, TX 3
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.93
    •  
  • 29626 Benson Springs Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2009
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 2526 Fox River Lane Spring, TX 2
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2005
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 2615 Elm Crossing Trail Spring, TX 4
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2014
    property image
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 2586 Magnolia Fair Way Spring, TX 5
    • 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,830 Sqft ∙ Built 2015
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
PROPERTY LISTING DETAILS
Diane Moss
1.832.510.8203
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56064854
Last Updated: 02/27/2021
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