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PROPERTY INFO
FACTS
- Single Family
- Built In 2008
- Price/Sqft : $118.47
- 3 Days on Market
- MLS # : 53240580
- Updated Date : 01/02/2021 at 13:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,603 sqft
- Baths : 2 full
Listing Agent
Red Door Realty & Associates
Listing Agent's Description
Welcome to 29427 Turnbury Village, located in the Forest Village neighborhood. Beautiful 1 story ranch style home with a huge family room, ideal for family gatherings, 3 bedrooms, 2 full baths, kitchen/dining area combo, utility room located inside the house. Fully fenced back yard with a small porch located off the kitchen area. Sprinkler system, wired for an alarm system. The home has recently been painted. Refrigerator, washer and dryer stay. The neighborhood is in a great location with close proximity to major highways such as 99 or 45. Close to the hospitals of The Woodlands, shopping galore, and Bush Intercontinental Airport. Don't miss this opportunity by waiting, schedule your appointment today!!
SEE MORE
- 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
Zip Code: 77386
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 77386
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,460 |
| EXPENSES | Loan Payment | -$701 |
| Property Tax | -$477 | |
| Property Insurance | -$120 | |
| HOA | -$25 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$39
|
||
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.
$189,900
PROJECTED PRICE
$1,460
PROJECTED RENT
0.77%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$56,074
LOAN DETAILS
$701
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $47,475 |
| Loan Amount | $142,425 |
2.67
YEARS SAVED
$4,988
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,460
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,471
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
29427 Turnbury Village Drive Spring, TX 1
- 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $1,460
- $0.91
-
2418 Lofty Falls Court Spring, TX 2
- 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2008
LEASED 09/16/20- Rent
- Rent Per SQFT
- $1,500
- $0.98
-
2335 Turnbury Elm Court Spring, TX 3
- 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2006
LEASED 01/03/20- Rent
- Rent Per SQFT
- $1,500
- $0.99
-
29441 Forest Floor Lane Spring, TX 4
- 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 2011
LEASED 01/04/20- Rent
- Rent Per SQFT
- $1,520
- $0.84
-
29307 Alba Rose Drive Spring, TX 5
- 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 2009
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,535
- $0.86
PROPERTY LISTING DETAILS
1.713.459.0220
Red Door Realty & Associates
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 53240580
Last Updated: 01/02/2021
