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3 Song Sparrow Place The Woodlands, TX 77381

3 Beds 3 Baths 2,209 sqft Built 1983

$350,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $158.44
  • 4 Days on Market
  • MLS # : 22928656
  • Updated Date : 12/19/2020 at 12:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,209 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Updated, meticulously maintained home w/pool on a cul-de-sac street in the heart of The Woodlands! Cozy front porch leads to the leaded glass front door. Beautiful Saltillo tile flooring throughout first floor. Large family room w/built-ins extends into kitchen. Huge cambria quartz island in kitchen, wood countertops & plenty of cabinet space & adjoins the corner breakfast area. Master bedroom down w/roomy bath and his & hers Elfa closet systems. High-end interior lighting fixtures throughout. Kitchen renovation includes installation of pass-through bar (onto the rear covered porch) 2017. Wrought iron staircase w/unique tile risers leads to the upstairs game room which features a built-in wall desk, 2 bedrooms and a beautiful full bath. Rear porch leads to spacious backyard deck and pool area. Other updates include: electrical box 2018, upstairs bath 2018, energy-efficient double-pane windows 2019, fence 2019, insulated garage door 2019, AC condenser 2020, pool re-plastered 2020.

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: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722322

* 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
Bush Elementary School Primary Regular 698 42 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Bush Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
10
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,291
Property Tax -$696
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
-$11

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.

$350,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,275

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2303$2,2504$2,2995$2,300
$2,300
RENT COMPS ANALYSIS
  • 3 Song Sparrow Place The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.01
    •  
  • 42 Lace Arbor The Woodlands, TX 1
    • 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1996
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 30 S Old Cedar Circle Spring, TX 3
    • 4 beds 2 baths ∙ 2,059 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,059 Sqft ∙ Built 1996
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.09
    •  
  • 142 Russet Grove Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2000
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $1.06
    •  
  • 151 E Greenhill Terrace Place The Woodlands, TX 5
    • 3 beds 3 baths ∙ 2,333 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,333 Sqft ∙ Built 2001
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
PROPERTY LISTING DETAILS
Janell Callihan
1.832.443.0520
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22928656
Last Updated: 12/19/2020
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