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30114 Luna Lakes Drive Spring, TX 77386

4 Beds 3 Baths 2,454 sqft Built 2005

$249,500

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $101.67
  • 5 Days on Market
  • MLS # : 25096080
  • Updated Date : 12/02/2020 at 15:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,454 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Homes Realty

Listing Agent's Description

Welcome Home! Spacious 4 BR, Corner lot home in Guarded, Gated Community! This home features tile flooring in entry & all wet areas. Both Formals upon entry. Spacious den with fireplace, high ceiling and plenty of natural lighting. Kitchen comes with breakfast bar, breakfast room, tile backsplash & SS Appliances. Large primary on 1st Floor with spacious walk-in closet. Game Room upstairs & nice size secondary rooms. Plenty of backyard space & down the street from Splash Pad! Come See Today, This is a Great Home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Lakes at Legends Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Canyon Lakes at Legends Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Birnham Woods Elementary School Primary Regular 940 52 10
Cox Intermediate School Middle Regular 1,093 60 9
Grand Oaks High School High Unknown NA

Birnham Woods Elementary School

  • Education Level: Primary
  • # of students: 940
  • # of teachers: 52
10
GreatSchools Rating

Cox Intermediate School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 60
9
GreatSchools Rating

Grand Oaks High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$224,550$274,450$249,500

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$921
Property Tax -$453
Property Insurance -$169
HOA -$75
Property Management Fees -$99
CASH FLOW
$174

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.

$249,500

PROJECTED PRICE

$1,890

PROJECTED RENT

0.76%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$921

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,061

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$1,9503$2,1004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 30114 Luna Lakes Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.77
    •  
  • 30230 Emerson Creek Drive Spring, TX 2
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2007
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 30722 Wisteria Trace Drive Spring, TX 3
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2010
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 30714 Lily Trace Court Spring, TX 4
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2012
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
  • 30323 Legacy Pines Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jacqueline Wallman
1.281.646.9929
Texas Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25096080
Last Updated: 12/02/2020
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