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3022 Greenbriar Springs Drive Houston, TX 77073

3 Beds 2 Baths 1,943 sqft Built 2001

$193,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $99.33
  • 3 Days on Market
  • MLS # : 10042940
  • Updated Date : 03/20/2021 at 13:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,943 sqft
  • Baths : 2 full
Listing Agent

Connect Realty

Listing Agent's Description

Welcome home, this immaculate traditional home is ready to move in. Plush landscaping, beautiful extended foyer, huge open kitchen & kitchenette, plenty of counter space and cabinets for extra storage, refrigerator included. Spacious family room, great for large gatherings and entertaining, natural warm tones throughout the home, plenty of windows providing natural lighting, large formal dining room with chair molding. The primary suite holds king-sized furnishings, dual closets, separate soaking tub & shower. No Flooding!! 4 video cameras also included.

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: Woodcreek

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Woodcreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101686

* 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
Parker Intermediate School Primary Regular 998 53 4
Lewis Middle School Middle Regular 1,025 64 4
Nimitz Ninth Grade School High Regular 692 51 2

Parker Intermediate School

  • Education Level: Primary
  • # of students: 998
  • # of teachers: 53
4
GreatSchools Rating

Lewis Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 64
4
GreatSchools Rating

Nimitz Ninth Grade School

  • Education Level: High
  • # of students: 692
  • # of teachers: 51
2
GreatSchools Rating
 

$173,700$212,300$193,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$670
Property Tax -$464
Property Insurance -$159
HOA -$29
Property Management Fees -$99
CASH FLOW
$69

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$193,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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

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$56,895

INVESTMENT

$56,895

Down Payment
$48,250
Rehab Estimate
$5,750
Closing Costs
$2,895

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$670

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,250
Loan Amount $144,750
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$6,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5253$1,5854$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 3022 Greenbriar Springs Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.77
    •  
  • 21418 Palma Grove Way Houston, TX 2
    • 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,936 Sqft ∙ Built 2013
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.79
    •  
  • 21423 Palma Grove Way Houston, TX 3
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 2013
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.81
    •  
  • 3138 Silverstag Trail Lane Houston, TX 4
    • 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2003
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 3110 Silverstag Trail Lane Houston, TX 5
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2004
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
PROPERTY LISTING DETAILS
Yolanda Gates
1.832.342.6973
Connect Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10042940
Last Updated: 03/20/2021
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