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3011 Crescent Oaks Park Lane Spring, TX 77386

3 Beds 2 Baths 2,056 sqft Built 2008

$237,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $115.27
  • 3 Days on Market
  • MLS # : 78094678
  • Updated Date : 11/28/2020 at 08:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,056 sqft
  • Baths : 2 full
Listing Agent

Cb & A, Realtors

Listing Agent's Description

Welcome Home!!! Single story in sought after Imperial Oaks. This 3 bedroom home features 2 full baths, separate shower/ jetted tub in owners retreat, a study with french doors, w/closet (could be 4th bedroom). Home sits on a oversized lot, with a covered back porch. Entire roof was replaced 11/2020, new carpet in bedrooms, as well as lush landscaping in front yard. Home is within walking distance to Kaufman Elementary. Close proximity to The Woodlands Mall, 1-45, and the Grand Parkway.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732063

* 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
Kaufman Elementary School Primary Regular 864 51 10
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Kaufman Elementary School

  • Education Level: Primary
  • # of students: 864
  • # of teachers: 51
10
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

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

$213,300$260,700$237,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$874
Property Tax -$555
Property Insurance -$146
HOA -$42
Property Management Fees -$99
CASH FLOW
$54

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.

$237,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.5%
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-$4.0k-$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,555

INVESTMENT

$68,555

Down Payment
$59,250
Rehab Estimate
$5,750
Closing Costs
$3,555

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$874

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,250
Loan Amount $177,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$6,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,866

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7703$1,7954$1,9255$2,000
$2,000
RENT COMPS ANALYSIS
  • 3011 Crescent Oaks Park Lane Spring, TX 2
    • 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.86
    •  
  • 3023 Crescent Oaks Park Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,975 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,975 Sqft ∙ Built 2011
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 2926 Bright Sky Court Spring, TX 3
    • 3 beds 2 baths ∙ 1,937 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,937 Sqft ∙ Built 2007
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 3223 Clover Trace Drive Spring, TX 4
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 2011
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.93
    •  
  • 31031 Imperial Walk Lane Spring, TX 5
    • 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2010
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kristin Kny Atkins
1.832.453.1976
Cb & A, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 78094678
Last Updated: 11/28/2020
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